Oportun Financial Corp Stock Price, News & Analysis

Oportun Financial Corporation (Nasdaq: OPRT), a mission-driven financial services company, has reached a multi-year cooperation agreement with Findell Capital Management LLC to resolve a contested director election. As part of the agreement, Warren Wilcox will join Oportun's Board of Directors as a Class III director after the 2025 Annual Meeting, with his term expiring in 2028.

The agreement includes Findell's commitment to support Oportun's nominees, CEO Raul Vazquez and Carlos Minetti, at the 2025 Annual Meeting. Following Wilcox's appointment, the Board will consist of nine directors, with one incumbent director set to retire by the 2026 Annual Meeting. The agreement includes standard standstill and voting provisions, extending until 15 days before the 2028 Annual Meeting nomination deadline.

Oportun (Nasdaq: OPRT) has issued a letter to stockholders urging them to vote "FOR" CEO Raul Vazquez and Carlos Minetti as director nominees at the upcoming July 18, 2025 annual meeting. The company highlights its significant progress since the last annual meeting, including a doubled stock price and improved financial performance.

The letter addresses opposition from Findell Capital Management, which seeks to replace Vazquez with Warren Wilcox. The board criticizes Findell for selling 500,000 shares in 2025 while publicly claiming the stock is undervalued. The company questions Wilcox's qualifications, citing inconsistencies in his background check, and emphasizes that removing Vazquez could disrupt the company's positive momentum.

Oportun (NASDAQ: OPRT) Board of Directors has issued a critical letter to stockholders urging them to vote "FOR" CEO Raul Vazquez and Carlos Minetti on the GREEN proxy card at the upcoming July 18, 2025 Annual Meeting. The Board is responding to Findell Capital Management's attempt to remove CEO Vazquez from the Board, despite the company's stock being up more than 80% this year.

The Board emphasizes that removing Vazquez would be detrimental to the company's operations, highlighting his successful execution of strategic plans that have improved financial performance and profitability. They argue that his board presence is crucial for effective communication between management and the Board, especially with the Lead Independent Director retiring this month.

Oportun Financial Corporation (NASDAQ: OPRT) received a significant recommendation from Institutional Shareholder Services (ISS) regarding its upcoming 2025 Annual Meeting. ISS has recommended stockholders vote FOR Warren Wilcox, Findell Capital's nominee to the Board of Directors, and WITHHOLD votes for CEO Raul Vazquez.

The recommendation comes amid concerns over Oportun's performance, with the stock price declining approximately 55% since its 2019 IPO. ISS criticized the company's 2021 strategic shift, poor corporate governance structure, and board composition issues. The proxy advisory firm highlighted the benefits of electing Wilcox, citing his consumer lending and public board experience, while noting that removing Vazquez's board position would benefit shareholders.

Oportun (NASDAQ:OPRT), a mission-driven financial services company, has issued a response to recent comments from Findell Capital Management, LLC. The company states it has been actively seeking a resolution with Findell for months, including multiple formal proposals for Board composition changes.

The company reports it has made recent efforts to streamline its Board, including the decision not to renominate Lead Independent Director Neil Williams and director Scott Parker. This decision was made to rebalance the Board's expertise, noting that both Williams and Parker are former public company CFOs, while the Board maintains three other directors with similar financial backgrounds.

Oportun emphasizes its continued openness to constructive engagement with Findell to resolve the ongoing proxy contest in a manner that benefits all stockholders.

Findell Capital Partners, a major stockholder of Oportun Financial Corporation (NASDAQ: OPRT), has issued a statement reiterating its desire for a compromise with the company. Findell advocates for the addition of Warren Wilcox to Oportun's Board of Directors and supports the continued service of Scott Parker, a former independent director with public company CFO and consumer lending executive experience.

Findell expressed concern over the company spending millions in stockholder capital to oppose one of its largest owners and emphasized its willingness to engage in discussions that would benefit all stockholders. Scott Parker separately stated his willingness to continue serving as a board member, citing his experience and industry knowledge as valuable assets for enhancing shareholder value through board oversight.

Findell Capital Partners, a major stockholder of Oportun Financial (NASDAQ: OPRT), has issued a rebuttal presentation addressing the company's June 18th statements. The investment firm received support from Oportun's founder and former CEO James Gutierrez, who endorsed their plan to restore value and supported the election of Warren Wilcox to replace current board member Raul Vazquez.

Findell aims to strengthen Oportun's Board through improved lending industry credentials, independence, and management oversight at the upcoming 2025 Annual Meeting of Stockholders. The firm criticizes the company for forcing a costly proxy contest by refusing to fill board leadership positions with experienced independent directors and removing former OneMain Financial CFO Scott Parker from the board.

Oportun (OPRT) issued a letter to stockholders defending CEO Raul Vazquez's leadership ahead of the July 18, 2025 Annual Meeting, where stockholder Findell Capital Management seeks to remove him from the Board. The letter highlights Vazquez's extensive experience, including his 9-year tenure at Walmart where he managed a $60B division and led Walmart.com's growth. Since joining Oportun in 2012, Vazquez transformed the company from a small regional lender to a national, digitally-driven company, growing its loan portfolio from $100M to $3B. Under his leadership, Oportun expanded from 2 to 41 states and improved financial performance in 2024 with growth in originations and better credit metrics. The Board unanimously supports Vazquez's reelection, arguing that replacing him with Findell's candidate Warren Wilcox would jeopardize the company's momentum.

Oportun (OPRT) has released an investor presentation ahead of its Annual Meeting of Stockholders on July 18, 2025. The company is urging shareholders to vote 'FOR' two board nominees - current CEO Raul Vazquez and Carlos Minetti - using the GREEN proxy card. The presentation, which outlines the strategic steps taken by the Board and management to create long-term stockholder value, is available at VoteForOportun.com. For voting assistance, stockholders can contact Innisfree M&A Incorporated at (877) 800-5195 (U.S./Canada toll-free) or +1 (412) 232-3651 (international).