Kirscht Patrick 4
4 · Oportun Financial Corp · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
Oportun (OPRT) Chief Credit Officer Patrick Kirscht Sells Shares, Receives Awards
What Happened
Patrick Kirscht, Chief Credit Officer of Oportun Financial Corp (OPRT), reported multiple open‑market/private sales totaling 54,299 shares on March 10, 2026, at a weighted average price of $4.90 for gross proceeds of about $266,065. On the same date he was also granted 75,047 restricted stock units (RSUs) and 37,524 performance stock units (PSUs) (awards reported as acquisitions).
Key Details
- Transaction dates: March 10, 2026 (sales and awards); Form 4 filed March 12, 2026 (timely filing).
- Sales: 12,099; 8,666; 14,172; and 19,362 shares sold (total 54,299). Weighted average sale price $4.90; price range reported $4.805–$4.995 per share (footnote F1). Total proceeds ≈ $266,065.
- Awards: 75,047 RSUs (F2–F3) and 37,524 PSUs (F4–F5) granted; acquisition values not reported.
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Footnotes of note: F1 explains weighted average price and range; F2–F3 describe RSU vesting in three equal annual installments commencing March 10, 2026 (each RSU = one share); F4–F5 describe PSUs tied to a one‑year Economic ROA measure, deferred and subject to a 3‑year relative TSR modifier against the Russell 3000, with vesting scheduled March 10, 2029 and payout range 0%–125% of target units.
Context
The sales were open‑market/private dispositions (code S) and generated cash proceeds; the grants are awards (code A) that are subject to service and performance vesting and therefore do not represent immediate ownership of shares. Sales by officers can be routine or for liquidity/tax purposes; awards indicate ongoing incentive compensation but are contingent on vesting conditions.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-03-10$4.90/sh−12,099$59,285→ 481,818 total - Sale
Common Stock
[F1]2026-03-10$4.90/sh−8,666$42,463→ 473,152 total - Sale
Common Stock
[F1]2026-03-10$4.90/sh−14,172$69,443→ 458,980 total - Sale
Common Stock
[F1]2026-03-10$4.90/sh−19,362$94,874→ 439,618 total - Award
Common Stock
[F2][F3]2026-03-10+75,047→ 514,665 total - Award
Performance Stock Units
[F4][F5]2026-03-10+37,524→ 37,524 totalExp: 2029-03-10→ Common Stock (37,524 underlying)
Footnotes (5)
- [F1]Weighted average price. These shares were sold in multiple transactions at prices ranging from $4.805 to $4.995 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F2]The Restricted Stock Units (RSU) vest in 3 equal annual installments from the vesting commencement date of March 10, 2026, subject to the continued service of the Reporting Person on each vesting date.
- [F3]Each RSU represents the right to receive, at settlement, one share of common stock.
- [F4]Represents PSUs that are eligible to vest based on a one-year performance period for Economic ROA (as defined in the PSU Award Agreement). Earned PSUs will be deferred until the end of year three, at which point they will be subject to a modifier based on the Issuer's relative total shareholder return (rTSR) performance against the Russell 3000 Index before vesting. The rTSR performance period spans three (3) years covering calendar years 2026 through 2028. The number of PSUs reported in the table reflects the number of units subject to the award at target achievement. Actual vesting will be based on percentile performance, with potential payout ranging from 0% to 125% of the target units. In addition to such performance requirements, the PSUs are subject to satisfying service-based requirements and any PSUs that become Eligible Units (as defined in the PSU Award Agreement) will be scheduled to vest on March 10, 2029.
- [F5]Each Performance-Based RSU (PSU) represents the right to receive, at settlement, one share of common stock.