Oportun Enters Cooperation Agreement with Findell Capital
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 Financial Corporation (Nasdaq: OPRT), un'azienda di servizi finanziari con una missione sociale, ha raggiunto un accordo di collaborazione pluriennale con Findell Capital Management LLC per risolvere una disputa relativa all'elezione di un direttore. Nell'ambito dell'accordo, Warren Wilcox entrerà a far parte del Consiglio di Amministrazione di Oportun come direttore di Classe III dopo l'Assemblea Annuale del 2025, con un mandato che scadrà nel 2028.
L'accordo prevede l'impegno di Findell a sostenere i candidati di Oportun, il CEO Raul Vazquez e Carlos Minetti, durante l'Assemblea Annuale del 2025. Dopo la nomina di Wilcox, il Consiglio sarà composto da nove direttori, con un direttore attuale che si ritirerà entro l'Assemblea Annuale del 2026. L'accordo include clausole standard di standstill e di voto, valide fino a 15 giorni prima della scadenza per le candidature all'Assemblea Annuale del 2028.
Oportun Financial Corporation (Nasdaq: OPRT), una empresa de servicios financieros con una misión social, ha alcanzado un acuerdo de cooperación plurianual con Findell Capital Management LLC para resolver una disputa sobre la elección de un director. Como parte del acuerdo, Warren Wilcox se unirá a la Junta Directiva de Oportun como director de Clase III después de la Reunión Anual de 2025, con un mandato que expirará en 2028.
El acuerdo incluye el compromiso de Findell de apoyar a los nominados de Oportun, el CEO Raul Vazquez y Carlos Minetti, en la Reunión Anual de 2025. Tras el nombramiento de Wilcox, la Junta estará compuesta por nueve directores, con un director actual que se retirará antes de la Reunión Anual de 2026. El acuerdo incluye disposiciones estándar de standstill y votación, extendiéndose hasta 15 días antes de la fecha límite para nominaciones de la Reunión Anual de 2028.
Oportun Financial Corporation (나스닥: OPRT)는 사회적 가치를 추구하는 금융 서비스 회사로서, Findell Capital Management LLC와 다년간의 협력 계약을 체결하여 이사 선거 분쟁을 해결했습니다. 계약에 따라 Warren Wilcox가 2025년 연례 총회 이후 Oportun 이사회에 3등급 이사로 합류하며 임기는 2028년에 만료됩니다.
이 계약에는 Findell이 2025년 연례 총회에서 Oportun의 CEO인 Raul Vazquez와 Carlos Minetti를 지지하기로 약속한 내용이 포함되어 있습니다. Wilcox 임명 후 이사회는 9명의 이사로 구성되며, 현직 이사 중 한 명은 2026년 연례 총회 전에 퇴임할 예정입니다. 계약에는 2028년 연례 총회 후보 등록 마감 15일 전까지 유효한 표결 및 스탠드스틸 조항이 포함되어 있습니다.
Oportun Financial Corporation (Nasdaq : OPRT), une entreprise de services financiers engagée, a conclu un accord de coopération pluriannuel avec Findell Capital Management LLC afin de résoudre une élection contestée de directeur. Dans le cadre de cet accord, Warren Wilcox rejoindra le conseil d'administration d'Oportun en tant que directeur de classe III après l'assemblée générale annuelle de 2025, son mandat expirant en 2028.
L'accord inclut l'engagement de Findell à soutenir les candidats d'Oportun, le PDG Raul Vazquez et Carlos Minetti, lors de l'assemblée générale annuelle de 2025. Après la nomination de Wilcox, le conseil comptera neuf administrateurs, un administrateur actuel devant prendre sa retraite avant l'assemblée générale annuelle de 2026. L'accord comprend des clauses standards de standstill et de vote, s'étendant jusqu'à 15 jours avant la date limite de nomination pour l'assemblée générale annuelle de 2028.
Oportun Financial Corporation (Nasdaq: OPRT), ein finanzdienstleistungsunternehmen mit einer sozialen Mission, hat eine mehrjährige Kooperationsvereinbarung mit Findell Capital Management LLC getroffen, um eine umstrittene Direktorenwahl zu lösen. Im Rahmen der Vereinbarung wird Warren Wilcox nach der Hauptversammlung 2025 als Direktor der Klasse III in den Vorstand von Oportun eintreten, seine Amtszeit endet 2028.
Die Vereinbarung beinhaltet das Engagement von Findell, die von Oportun nominierten Kandidaten, CEO Raul Vazquez und Carlos Minetti, auf der Hauptversammlung 2025 zu unterstützen. Nach Wilcox' Ernennung wird der Vorstand aus neun Direktoren bestehen, wobei ein amtierendes Vorstandsmitglied bis zur Hauptversammlung 2026 ausscheiden wird. Die Vereinbarung enthält Standard-Stillhalte- und Abstimmungsregelungen, die bis 15 Tage vor Ablauf der Nominierungsfrist für die Hauptversammlung 2028 gelten.
- Resolution of contested director election, avoiding potential proxy fight
- Addition of new board member Warren Wilcox bringing fresh perspective
- Secured multi-year cooperation agreement with activist investor
- Board size increasing to nine members, potentially affecting decision-making efficiency
- One incumbent director required to retire by 2026
Warren Wilcox to join Oportun Board of Directors
SAN CARLOS, Calif., July 14, 2025 (GLOBE NEWSWIRE) -- Oportun Financial Corporation (Nasdaq: OPRT) (“Oportun” or the “Company”), a mission-driven financial services company, today announced it has entered into a multi-year cooperation agreement (the “Agreement”) with Findell Capital Management LLC (collectively with its affiliates, “Findell”) to end the contested director election.
Under the terms of the Agreement, Findell has agreed to support and vote in favor of Oportun’s nominees, CEO Raul Vazquez and Carlos Minetti, at the 2025 Annual Meeting of Stockholders (the “Annual Meeting”) and the Oportun Board of Directors (the “Board”) has agreed to appoint Warren Wilcox to the Board as a Class III director following the Annual Meeting, with a term expiring at the Company’s 2028 Annual Meeting of Stockholders. Following the appointment of Mr. Wilcox, the Board will consist of nine directors. One incumbent director will retire at or before Oportun’s 2026 Annual Meeting of Stockholders.
In connection with the Agreement, Findell has agreed to withdraw its notice of intent to nominate a director candidate for election to the Board at the Annual Meeting. The Agreement also contains customary standstill and non-disparagement provisions and voting commitments, and will remain in effect until 15 days before the nomination deadline for the Company’s 2028 Annual Meeting.
The foregoing summary of the Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Agreement, which will be filed as an exhibit to a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (the “SEC”).
About Oportun
Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members' financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than
Cautionary Statement on Forward-Looking Statements
Certain statements in this communication are “forward-looking statements.” These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this communication, including statements as to the operation of the Agreement, are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events, financial trends and risks and uncertainties that we believe may affect our business, financial condition and results of operations. These risks and uncertainties include those risks described in our filings with the SEC, including our most recent annual report on Form 10-K for the year ended December 31, 2024, as well as our subsequent filings with the SEC. These forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, we disclaim any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.
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FAQ
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