Form 4: Opendoor CEO Sells Shares to Cover Tax Obligations

Opendoor Technologies Inc. CEO Carrie Wheeler sold 671,164 shares of common stock on June 16, 2025, to satisfy tax withholding obligations related to previously granted restricted stock awards.

Summary

• Carrie Wheeler, Chief Executive Officer of Opendoor Technologies Inc., reported a sale of common stock.
• The transaction occurred on June 16, 2025, and was filed on June 17, 2025.
• A total of 671,164 shares of Opendoor common stock were disposed of.
• The shares were sold at a weighted average price of $0.561 per share, with individual transactions ranging from $0.5479 to $0.578.
• The sale was executed pursuant to a Rule 10b5-1 'sell to cover' election.
• The sole purpose of the sale was to satisfy the Reporting Person's tax withholding obligation upon the settlement of previously granted restricted stock awards.
• The filing explicitly states that this sale does not represent a discretionary trade by the Reporting Person.
• Following this transaction, Carrie Wheeler beneficially owns 14,365,711 shares of Opendoor Technologies Inc. common stock.

Sentiment

Score: 5

Explanation: The transaction is a non-discretionary 'sell to cover' sale for tax purposes, which is a routine event for executives receiving equity compensation and does not reflect a change in investment sentiment, thus having a neutral impact.

Positives

• The sale was non-discretionary, specifically for tax withholding purposes, indicating it does not reflect a change in the CEO's investment sentiment or confidence in the company's future.

Negatives

• The CEO's direct beneficial ownership of common stock decreased by 671,164 shares.
• The sale occurred at a relatively low price point, with a weighted average of $0.561 per share.

Risks

• The company's stock price volatility, as indicated by the range of sale prices ($0.5479 to $0.578), could impact the future value of equity compensation for executives and employees.

Future Outlook

NA

Management Comments

• "This sale was effected pursuant to a Rule 10b5-1 'sell to cover' election made by the Reporting Person for the sole purpose to satisfy the Reporting Person's tax withholding obligation upon the settlement of previously granted restricted stock awards. This sale does not represent a discretionary trade by the Reporting Person."

Industry Context

NA

Related Party Transactions

• The transaction involves the sale of common stock by the Chief Executive Officer, a key insider of Opendoor Technologies Inc.

Stakeholder Impact

• Shareholders: The sale slightly reduces the CEO's direct ownership percentage, but the non-discretionary nature of the transaction mitigates concerns about management confidence.
• Employees: No direct impact on employees is mentioned in this filing.

Key Dates

Recommendation

Keywords

Opendoor Technologies, OPEN, SEC Form 4, insider trading, stock sale, CEO, Carrie Wheeler, restricted stock awards, tax withholding, 10b5-1 plan