# EDGAR Filing Document

**Accession Number:** 0001806201
**File Stem:** 0001628280-25-044478
**Filing Date:** 2025-10
**Character Count:** 9911
**Document Hash:** 0551ac07162fe97bfedbfefc332e1755
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-044478.hdr.sgml**: 20251007

**ACCESSION NUMBER**: 0001628280-25-044478

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20251001

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251007

**DATE AS OF CHANGE**: 20251007

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Open Lending Corp
- **CENTRAL INDEX KEY:** 0001806201
- **STANDARD INDUSTRIAL CLASSIFICATION:** PERSONAL CREDIT INSTITUTIONS [6141]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 845031428
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39326
- **FILM NUMBER:** 251379874

**BUSINESS ADDRESS:**
- **STREET 1:** 1501 S. MOPAC EXPRESSWAY
- **STREET 2:** SUITE #450
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78746
- **BUSINESS PHONE:** 512-892-0400

**MAIL ADDRESS:**
- **STREET 1:** 1501 S. MOPAC EXPRESSWAY
- **STREET 2:** SUITE #450
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78746

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Nebula Parent Corp.
- **DATE OF NAME CHANGE:** 20200310

?xml version='1.0' encoding='ASCII'? lpro-20251001

  

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**<br>

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): October 1, 2025**

![lpro logo.jpg](lpro-20251001_g1.jpg)

**OPEN LENDING CORPORATION**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-39326** | **84-5031428** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission<br>File Number)** | **(IRS Employer<br>Identification No.)** |

---

**1501 S. MoPac Expressway**

**Suite 450**

**Austin, Texas 78746**

**(Address of principal executive offices, including zip code)**

**Registrant's telephone number, including area code: 512-892-0400**

**(Former name or former address, if changed since last report)**

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| **Common stock, par value $0.01 per share** | **LPRO** | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 5.02&nbsp;&nbsp;&nbsp;&nbsp;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

**Executive Transition**

On October 1, 2025, Matthew Stark resigned his position as Chief Legal and Compliance Officer and Corporate Secretary of Open Lending Corporation (the "Company"), effective November 7, 2025.

On October 6, 2025, the Company appointed Ben Massey to serve as the Company's General Counsel and Corporate Secretary, effective as of November 7, 2025.

Ben Massey, age 40, previously served as Assistant General Counsel of the Company since January 2024 and as Corporate Counsel – Securities and Governance of the Company from October 2022 until December 2023. Prior to joining the Company, Mr. Massey was an attorney with Simpson Thacher & Bartlett LLP from June 2019 until September 2022. Mr. Massey holds an A.B. in Politics from Princeton University and a J.D. from the University of Virginia School of Law.

Mr. Massey does not have any family relationship with any director or executive officer of the Company or person nominated or chosen by the Company to become a director or executive officer, there is no arrangement or understanding between him and any other person(s) pursuant to which he was appointed as General Counsel and Corporate Secretary, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

The Company has entered into its standard form of officer indemnification agreement with Mr. Massey, the form of which is filed as Exhibit 10.12 to the Company's Current Report on Form 8-K filed on June 16, 2020.

**Offer Letter with Mr. Massey**

In connection with Mr. Massey's appointment, on October 6, 2025, the Company and Mr. Massey entered into an offer letter (the "General Counsel Offer Letter"). Pursuant to the General Counsel Offer Letter, Mr. Massey will serve as the General Counsel and Corporate Secretary of the Company and will receive the following compensation and benefits: (i) annual base salary of $325,000, (ii) target annual cash performance bonus of 75% of his base salary, (iii) long-term incentive target award equal to 100% of his base salary and (iv) eligibility to participate in the Company's group employee benefit plans in effect from time to time.

The foregoing description of the General Counsel Offer Letter is qualified in its entirety by reference to the text of the General Counsel Offer Letter, which is attached hereto as Exhibit 10.1, and incorporated herein by reference.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits

---

| | |
|:---|:---|
| 10.1 | <u>[Offer Letter by and between the Company and Ben Massey, dated October](exhibit101.htm)[6, 2025.](exhibit101.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **OPEN LENDING CORPORATION** | **OPEN LENDING CORPORATION** |
| By: | /s/ Jessica Buss |
| Name: | Jessica Buss |
| Title: | Chief Executive Officer |

---

Date: October 7, 2025

## Exhibit 10.1

![image_0a.jpg](image_0a.jpg)

October 6, 2025

RE: Promotion with Lenders Protection, LLC (a Subsidiary of Open Lending Corporation)

Dear Ben Massey,

We are pleased to offer you a promotion to General Counsel and Corporate Secretary position at Lenders Protection effective November 7, 2025

Your compensation package consists of a base salary, short-term and long-term incentive compensation. We are prepared to offer your promotion in accordance with the following terms:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Effective October 6, 2025, this position offers a semi-monthly salary of $13,541.67, which is the equivalent of $325,000 on an annual basis payable on the 15<sup>th</sup> and last day of each month. This position is considered exempt under the federal and state wage and hour laws, which means you are not eligible for overtime pay beyond your salary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Participation in the annual short-term incentive compensation bonus plan, based on corporate and personal performance, with a target of 75% of your base salary for calendar year 2026. For calendar year 2025, your target will remain at 50% of your base salary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Eligible to participate in the Company's long-term incentive equity compensation plan, with a target of 100% of your base salary per year.

This letter sets forth the terms of your employment with the Company and supersedes any prior representations or agreements including, but not limited to, any representations made during your recruitment, interviews, or pre-employment negotiations, whether written or oral.

This letter, nor any other document, confers any contractual right, either expressed or implied, to remain a Lender's Protection employee. This letter does not guarantee any fixed terms and conditions of your employment. Your employment is not for any specific time and may be terminated at will with or without cause and without prior notice.

Please do not hesitate to give me a call if you have any questions.

Please indicate your acceptance by signing below and returning a copy.

We look forward to having you join our Executive Leadership Team.

Sincerely,

/s/ Jessica Buss

Jessica Buss

Chief Executive Officer

![image_1a.jpg](image_1a.jpg)

------

![image_0a.jpg](image_0a.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;

I, Ben Massey, accept this offer of employment with Lenders Protection.

<u>/s/ Ben Massey</u>**_________________**

Ben Massey

<u>October 6, 2025&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

&nbsp;&nbsp;&nbsp;&nbsp;Date

![image_1a.jpg](image_1a.jpg)