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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 16, 2025
OPEN LENDING CORPORATION
(Exact name of registrant as specified in its charter)
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| Delaware |
001-39326 |
84-5031428 |
(State or other jurisdiction
of incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
1501 S. MoPac Expressway
Suite 450
Austin, Texas 78746
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: 512-892-0400
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the 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:
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| Title of each class |
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Trading
Symbol(s) |
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Name of each exchange
on which registered |
| Common stock, par value $0.01 per share |
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LPRO |
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The Nasdaq Stock Market LLC |
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. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 21, 2025, Open Lending Corporation (the “Company”) announced that John J. Flynn retired from his position as a member of the Board of Directors (the “Board”) of the Company, effective as of January 16, 2025. Mr. Flynn’s retirement is not the result of any dispute or disagreement with the Company or the Board on any matter relating to the operations, policies, or practices of the Company.
On January 21, 2025, the Company issued a press release in connection with Mr. Flynn’s retirement. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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| 99.1 |
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| 104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
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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| OPEN LENDING CORPORATION |
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| By: |
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/s/ Charles D. Jehl |
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Charles D. Jehl |
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Chief Executive Officer and Interim Chief Financial Officer |
Date: January 21, 2025
EX-99.1
2
lpro-20250121ex99.htm
EX-99.1
Document
Open Lending Co-Founder, John Flynn, Retires from the Company’s Board of Directors
AUSTIN, Texas, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Open Lending Corporation (Nasdaq: LPRO) (the “Company” or “Open Lending”), an industry trailblazer in lending enablement and risk analytics solutions for financial institutions, today announced that John J. Flynn, Open Lending co-founder, retired from the Board of Directors on January 16, 2025. On January 17, 2025, Mr. Flynn agreed to serve as a consultant to the Company through the end of 2025.
“After years of service as a member of Open Lending’s Board of Directors, I have decided that now is the right time for me to step down. The Company is in capable hands under Chuck Jehl’s leadership as CEO," said Mr. Flynn. "When we started the Company over 20 years ago, it was built on a mission to make vehicle ownership more accessible to applicants in the near- and non-prime credit spectrum. I am honored to have been of service to the Company and its shareholders all these years and look forward to its ongoing success.”
Mr. Flynn served as a member of Open Lending’s Board of Directors since 2000 and previously served as Chief Executive Officer from April 2000 until October 2022.
“John has been an invaluable member of the Board. We thank him for his leadership and wish him well in his retirement,” said Jessica Buss, Chairman of the Board. “Thanks to John, we have a strong foundation for growth and focus on innovation to empower financial institutions to grow their portfolios and create access to vehicle ownership.”
“I want to personally thank John for his years of dedicated service to Open Lending. As one of the Company’s founders, John is one of the visionaries responsible for enabling financial institutions to grow securely while breaking down barriers to vehicle ownership,” said Chuck Jehl, CEO of Open Lending. “John has been instrumental in guiding our mission, growth strategy, and innovation in the automotive lending industry. We look forward to continuing his legacy.”
Learn more at openlending.com.
About Open Lending
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 20 years, we have been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward. For more information, please visit www.openlending.com.
Contact
Open Lending Media Inquiries
press@openlending.com
Open Lending Investor Relations Inquiries
InvestorRelations@openlending.com
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