Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 15, 2021, Brandon Van Buren resigned his position as a director of
Open Lending Corporation (the "Company") following his resignation from True
Wind Capital. Mr. Van Buren's resignation is not the result any dispute or
disagreement with the Company or the Board of Directors (the "Board") on any
matter relating to the operations, policies or practices of the Company.
Effective August 15, 2021, the Board approved the appointment of William
Heldfond to serve as a director to fill the vacancy created by the resignation
of Mr. Van Buren. Mr. Heldfond's term as a director will expire at the 2024
Annual Meeting of Stockholders. At this time Mr. Heldfond has not been appointed
to serve on any Board committees. Mr. Heldfond was appointed to the Board
pursuant to that certain Investor Rights Agreement, dated June 10, 2020 and
attached as Exhibit 10.8 to the Company's Current Report on Form 8-K filed on
June 16, 2020.
Mr. Heldfond, is a Vice President at True Wind Capital, a private equity fund
manager focused on technology industry. Mr. Heldfond joined True Wind Capital in
2018. From 2013 to 2016 Mr. Heldfond was an Associate at Accel-KKR, where he
helped lead growth equity investments and leveraged buyout transactions within
the technology, media and telecommunications sectors across both North America
and Western Europe. Prior to joining Accel-KKR, Mr. Heldfond was with Vista
Point Advisors, a middle-market investment bank focused on mergers and
acquisitions, and private placement advisory within the technology, media and
telecommunications sectors. From 2013 to 2017, Mr. Heldfond served as Vice
Chairman for the Vanguard Chapter of the Aspen Institute. Mr. Heldfond holds a
B.A. in International Relations with an emphasis in Economics from the
University of Southern California, where he graduated Summa Cum Laude and Phi
Beta Kappa, and an M.B.A. from Stanford Graduate School of Business.
There are no family relationships between Mr. Heldfond, on the one hand, and any
director, executive officer or any other person nominated or chosen by the
Company to become a director or executive officer, on the other.
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