SCHEDULE: First American Financial Updates 16.84% Stake in Offerpad Solutions

First American Financial Corporation has updated its beneficial ownership in Offerpad Solutions Inc. to 16.84% of Class A Common Stock, holding 5,119,314 shares.

Summary

• First American Financial Corporation (the "Reporting Person") reported beneficial ownership of 5,119,314 shares of Offerpad Solutions Inc. Class A Common Stock.
• This represents 16.84% of Offerpad Solutions Inc.'s Class A Common Stock outstanding.
• The percentage is calculated based on 27,710,358 shares of Class A Common Stock outstanding as of June 30, 2025, as reported in Offerpad's 424(b)(5) prospectus filed on July 25, 2025.
• The shares are held with sole voting and dispositive power.
• The source of funds for the acquisition of these securities was working capital.

Sentiment

Score: 6

Explanation: The filing is largely neutral as it's an update to an existing beneficial ownership stake. The continued significant holding by First American Financial Corporation could be viewed as a mild positive signal of confidence in Offerpad Solutions Inc.

Positives

• First American Financial Corporation maintains a significant 16.84% stake in Offerpad Solutions Inc., indicating continued strategic interest.

Future Outlook

NA

Industry Context

First American Financial Corporation is a major player in title insurance and settlement services, while Offerpad Solutions Inc. operates in the iBuying real estate technology sector. First American's continued significant stake suggests a strategic interest in the evolving real estate transaction landscape, potentially leveraging Offerpad's technology or market presence.

Legal Proceedings

• The Reporting Person has not been convicted in a criminal proceeding during the last five years.
• No new civil proceedings of a judicial or administrative body have been initiated against the Reporting Person 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. may view First American Financial Corporation's continued significant ownership as a sign of stability and potential strategic alignment.
• The filing provides updated transparency regarding a major shareholder's stake.

Key Dates

Recommendation

The filing is an amendment to a Schedule 13D, primarily updating the percentage of ownership due to a change in the total outstanding shares of the issuer. It does not indicate a change in investment intent (e.g., plans to acquire more shares or dispose of the current holdings) nor does it provide new financial performance data for the issuer. Therefore, it does not present a strong catalyst for a 'buy' or 'sell' recommendation, suggesting a 'hold' position is appropriate as investors await further operational or strategic updates from Offerpad Solutions Inc.

Keywords

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