Open Lending (LPRO) Chief Underwriting Officer Sells Shares

What Happened
Matthew Sather, Chief Underwriting Officer of Open Lending (LPRO), recorded a disposition in connection with the company's merger/tender offer. On July 28, 2026 he tendered 61,426 shares at $3.15 per share for $193,492. Subsequent Form 4 entries (July 30, 2026) show multiple derivative award/option transactions that were converted, acquired and/or surrendered to the issuer as part of the merger process.

Key Details

• Transaction dates: July 28, 2026 (tendered common stock) and July 30, 2026 (derivative award/option conversions and settlements).
• Reported sale: 61,426 shares @ $3.15 = $193,492 (Disposition in change of control).
• Derivative activity (July 30): dispositions/settlements involving 167,793; 114,379; and 123,338 share-equivalents, plus a same-day 123,338-share award acquisition then disposition (recorded as derivative transactions; no per-share price listed on the Form 4).
• Footnote summary:
  • F1: Shares tendered in the tender offer under the Merger Agreement for $3.15 per share.
  • F2/F4: Time‑based RSUs and performance-based PSUs were cancelled/converted into the right to receive $3.15 per share (PSUs vested 1-for-1 immediately prior to the effective time).
  • F3: In‑the‑money options with exercise price below $3.15 were cashed out for the excess of $3.15 over the exercise price times the option shares.
• Shares owned after these transactions: Not specified in the provided Form 4.
• Filing: Form 4 filed July 30, 2026 reporting activity through July 28, 2026; the filing appears to relate to the close of the merger/tender offer.

Context

• These entries reflect merger-related cash-outs and cancellations rather than open-market trading: RSUs/PSUs were converted into cash at $3.15 per share and eligible options were cashed out per the Merger Agreement.
• The presence of an "acquire" entry followed by a same-day "dispose" entry is consistent with net settlement or shares being withheld/surrendered in connection with award settlement, as recorded on the Form 4.
• This activity is transactional (merger-driven) rather than an indication of independent buying or selling decisions by the insider.