SCHEDULE: First American Financial Reports 14.03% Offerpad Stake

First American Financial Corporation filed an Amendment No. 5 to its Schedule 13D, disclosing a 14.03% beneficial ownership in Offerpad Solutions Inc.

Summary

• First American Financial Corporation beneficially owns 5,119,314 shares of Offerpad Solutions Inc. Class A Common Stock.
• This represents 14.03% of Offerpad's Class A Common Stock outstanding.
• The percentage is based on 36,486,108 shares outstanding as of October 17, 2025, as reported by Offerpad in its Form 8-K on October 20, 2025.
• The source of funds for the acquisition of these securities was working capital.
• This is Amendment No. 5 to the Schedule 13D filing, indicating previous ownership disclosures.

Sentiment

Score: 5

Explanation: The filing is a neutral, factual report of beneficial ownership, providing no explicit positive or negative operational or financial news for the issuer or reporting person beyond the existence of the stake itself.

Positives

• First American Financial Corporation maintains a significant 14.03% beneficial ownership in Offerpad Solutions Inc., indicating continued institutional investment and potential confidence in the company.

Negatives

• No specific negative aspects are disclosed in this beneficial ownership report.

Risks

• No specific risks are mentioned in this beneficial ownership report.

Future Outlook

No forward-looking statements or guidance are provided in this beneficial ownership report.

Management Comments

• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct." (Statement by Lisa W. Cornehl, Senior Vice President, Chief Legal Officer of First American Financial Corporation).

Industry Context

This filing reflects a significant institutional stake held by a major financial services provider in a real estate technology company, highlighting continued investor interest in the proptech sector.

Legal Proceedings

• First American Financial Corporation has not been convicted in a criminal proceeding during the last five years.
• No civil proceedings of a judicial or administrative body of competent jurisdiction have occurred in the last five years, other than matters previously disclosed on the Schedule 13D/A filed on March 30, 2023.

Stakeholder Impact

• Shareholders of Offerpad Solutions Inc. are informed of First American Financial Corporation's continued significant 14.03% ownership stake, which may influence perceptions of institutional confidence and stability.

Next Steps

• No specific future actions, events, or milestones are mentioned in this beneficial ownership report.

Key Dates

Keywords

Offerpad Solutions Inc., First American Financial Corporation, Schedule 13D, Beneficial Ownership, Class A Common Stock, Real Estate Technology, Financial Services