Better Home & Finance Reports Executive Departures; President and COO Leave

What Happened

• Better Home & Finance Holding Co. (BETR) filed an 8-K on Sept 8, 2026 reporting that Chad M. Smith, President of its subsidiary Better Mortgage Corporation, and Barry Feierstein, Chief Operating Officer of the Company, have separated from the company by mutual agreement. Mr. Smith’s separation was effective Sept 2, 2026 under a Mutual Separation and General Release Agreement executed Sept 1, 2026; Mr. Feierstein’s separation was effective Sept 4, 2026 under a Mutual Separation and General Release Agreement executed Sept 3, 2026.

Key Details

• Cash payment to Chad M. Smith: $416,666 lump sum (five months of base salary), less applicable withholdings and taxes.
• Benefits to Smith: Company will pay COBRA premiums for six months.
• Equity treatment: Company accelerated vesting of 10,000 restricted stock units for Mr. Smith that otherwise would have been forfeited.
• Agreements include general release by the executives, limited release by the company, customary confidentiality and mutual non‑disparagement, and post‑employment cooperation; Smith’s indemnification agreement remains in effect.
• The company will file the separation agreements as exhibits to its Form 10-Q for the quarter ending Sept 30, 2026.

Why It Matters

• These are executive changes (president of Better Mortgage and the company COO) that may affect management continuity and operations at Better Mortgage and the parent company. The disclosed separation costs are specific and limited (the stated cash payment and 10,000 RSUs), and the company will provide the full agreements in its upcoming 10‑Q for additional detail. Investors should watch subsequent filings or company communications for information on replacements, any broader leadership changes, or material financial impacts.