Michael Burnett - Mar 1, 2022 Form 4 Insider Report for Offerpad Solutions Inc. (OPAD)

Signature
/s/ Adam Martinez, as Attoney-in-Fact for Michael Burnett
Stock symbol
OPAD
Transactions as of
Mar 1, 2022
Transactions value $
$0
Form type
4
Date filed
3/3/2022, 04:00 PM
Previous filing
Sep 3, 2021
Next filing
Mar 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OPAD Class A Common Stock Award $0 +79.4K $0.00 79.4K Mar 1, 2022 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction OPAD Performance-Based Restricted Stock Unit Award $0 +119K $0.00 119K Mar 1, 2022 Class A Common Stock 119K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of Offerpad Solutions Inc. (the "Issuer") Class A common stock. The RSUs vest in three equal annual installments beginning on March 1, 2023.
F2 Consists of performance-based restricted stock units ("PSUs"). Each PSU represents a contingent right to receive one share of the Issuer's Class A common stock.
F3 The PSUs vest based on the Issuer's stock price performance over a performance period beginning on December 31, 2022 and ending on March 1, 2025. The award will vest, if at all, based on continued service and the Issuer's stock price exceeding certain thresholds. Any portion of the award that has not been earned by March 1, 2025 will be forfeited.