Open Lending (LPRO) COO Michelle Glasl Sells Shares in Merger

What Happened
Michelle Glasl, Chief Operating Officer of Open Lending Corp (LPRO), had multiple holdings converted and paid out in cash as part of the company’s merger closing on July 30, 2026. The filing shows a disposition of 12,240 common shares sold to the issuer at $3.15 each for $38,556, plus cancellation/conversion of RSUs and PSUs into cash at $3.15 per share. Known cash proceeds from the common stock, time‑based RSUs (172,142 shares) and performance PSUs (142,818 shares) total approximately $1,030,680. An additional cancellation of 117,647 option‑related units was reported; the cash amount for those options was not specified in the filing (calculated per the merger agreement as the excess of $3.15 over the option exercise price).

Key Details

• Transaction date: 2026-07-30 (effective time of merger). Price for common stock/RSUs/PSUs: $3.15 per share pursuant to the Merger Agreement.
• Reported cash realized (from items with stated per‑share price): ~ $1,030,680 (includes 12,240 shares @ $3.15 + 172,142 RSUs @ $3.15 + 142,818 PSUs @ $3.15). Option cash amount (117,647) is listed as N/A in the filing and is computed under the merger formula in Footnote F3.
• Shares owned after the transactions: not stated in this summary filing.
• Footnotes: conversions and cash payments were made pursuant to the Agreement and Plan of Merger dated June 15, 2026 (see F1–F4). F1–F4 explain cash-out of common shares, RSUs, PSUs, and cash settlement formula for options.
• Filing timeliness: reported with the same period date (2026-07-30); filing appears timely.

Context
These were dispositions/cash settlements to the issuer as part of a corporate acquisition — not open‑market sales. Under the merger, outstanding equity awards were cancelled or converted into cash at the merger consideration; for options, cash payment depends on the option strike (filing shows the option‑related amount as N/A). Such merger cash‑outs are routine in acquisitions and reflect the transaction terms rather than an insider trading signal.