Opendoor Technologies (OPEN) Proxy Filing summary

Executive summary

• Annual meeting scheduled for June 13, 2025, will be held virtually, allowing shareholders to vote and ask questions online.

• In 2024, the company implemented cost-reduction initiatives, including a $50 million reduction in fixed operating expenses and a workforce reduction, to drive towards sustainable, profitable growth.

• The company continues to focus on attractive unit economics, cost discipline, and progress toward profitability despite macro real estate pressures.

• Proxy materials and annual report are available online, with voting accessible via internet, phone, or mail.

Voting matters and shareholder proposals

• Shareholders will vote on: (1) election of Adam Bain and Pueo Keffer as Class II directors until 2028, (2) ratification of Deloitte & Touche LLP as independent auditor for 2025, and (3) advisory approval of executive compensation (Say-on-Pay).

• Board recommends voting FOR all proposals.

• Shareholders of record as of April 16, 2025, are entitled to vote; each share has one vote.

• No other business is expected, but proxies may vote on additional matters if they arise.

Board of directors and corporate governance

• Board will reduce from eight to seven members after the meeting; seven of eight current directors are independent.

• Board is divided into three classes with staggered three-year terms.

• Committees (Audit and Risk, Compensation, Nominating) are composed entirely of independent directors.

• Lead independent director coordinates activities of independent directors.

• Board and committees conduct annual self-evaluations and oversee risk management and strategy.

• Stockholder engagement is ongoing through various channels.