On April 19, 2024, Oportun Financial Corporation announced that it entered into a letter agreement with Findell Capital Management LLC and certain of its affiliates (collectively, Findell). Pursuant to the Agreement, on April 19, 2024, the Company?s board of directors increased the size of the Board from 9 to 10 directors and appointed Scott Parker to serve on the Board as a Class III director, with a term expiring at the Company?s 2025 annual meeting of stockholders. Parker was also appointed to the Board?s Audit and Risk Committee and the Compensation and Leadership Committee.

In addition, the Board appointed Richard Tambor as an observer of the Board and agreed to include Tambor on the Company?s director slate for election at the Company?s 2024 annual meeting of stockholders as a Class II director, with a term expiring at the 2027 annual meeting of stockholders. During a Restricted Period, Findell can propose replacements for Tambor or Parker if they leave the Board. Findell faces standstill restrictions, must vote in accordance with Board recommendations, and both parties agree not to disparage each other or sue the other party, subject to certain exceptions.

The agreement lasts until 15 days before the 2025 Annual Meeting. The Company will reimburse Findell's expenses, capped at $225,000.