Feder Eric 4

What Happened Eric Feder, a non-employee director of Opendoor Technologies, was granted 14,282 restricted stock units (RSUs) on February 17, 2026. The Form 4 reports an acquisition price of $0 (award), with the RSUs issued in lieu of a $90,000 director retainer. The RSUs vest in four substantially equal installments on the last trading day of each quarter during 2026, subject to Feder’s continued service as a director.

Key Details

• Transaction type: Award/Grant (Code A) — 14,282 RSUs granted on 2026-02-17; reported acquisition value on the Form 4 is $0.
• Economic value: RSUs were issued in lieu of $90,000 in retainer fees (per footnote).
• Vesting: Four substantially equal installments on the last trading day in each quarter in 2026, contingent on continued service.
• Shares owned after transaction: Not specified in the filing.
• Ownership note (footnote): The reported shares are owned by Len X, LLC (a wholly-owned subsidiary of Lennar Corporation); Eric Feder is President of Len X, LLC and disclaims beneficial ownership except for any pecuniary interest. He is also a minority shareholder of Lennar (<1%).
• Filing timeliness: Transaction occurred 2026-02-17; Form 4 filed 2026-02-19 (filed within the typical 2-business-day reporting window).

Context Director RSU awards are routine compensation for board service and do not represent an open-market purchase or sale by the director. These RSUs are subject to time-based vesting and were granted instead of cash retainer fees, so they do not imply an immediate bullish or bearish trading action by the insider. The ownership structure noted in the footnote indicates the reported units are held by an entity (Len X, LLC), and Feder disclaims beneficial ownership beyond his pecuniary interest.