8-K - Oportun Financial Corporation | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Oportun Financial Corporation announced a leadership transition effective April 4, 2026, appointing Kathleen Layton and Gaurav Rana as co-principal executive officers in a joint Office of the CEO, following Raul Vazquez’s departure as CEO and board member on April 3, 2026.

Key Takeaways

1Raul Vazquez stepped down as CEO and board member effective April 3, 2026, and will serve as a non-employee advisor until July 3, 2026 — signaling an orderly but definitive leadership change.

2Kathleen Layton (Chief Legal Officer) and Gaurav Rana (SVP, General Manager, Lending) were appointed co-principal executive officers effective April 4, 2026, to jointly lead the company on an interim basis.

3Each interim leader received a $35,000 monthly base salary increase — raising Layton’s monthly rate from $37,500 to $72,500 and Rana’s from $36,313 to $71,313 — for the duration of their interim roles.

4The Board confirmed no family relationships or material interests exist between Layton or Rana and other directors or executives, and no third-party arrangements governed their appointments.

Current Report Details

Event Type

Management Change

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

5.02

. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On January 2

Management Change

$35.0K$450.0K$37.5K$435.8K

9.01

. Financial Statements and Exhibits (d) Exhibits Exhibit Number: 99.1 | Col3: Press Release dated April 2, 2026 Exhibit Number: 104 | Col3: Cover Page Interacti

Exhibits Only

Source Document

Executive & Director Changes

Raul Vazquez

Chief Executive Officer

Departure

Effective: 2026-04-03

Transition to non-employee advisor

Kathleen Layton

Chief Legal Officer and Corporate Secretary

Appointment to joint Office of the CEO

Effective: 2026-04-04

Interim co-principal executive officer pending permanent CEO appointment

Gaurav Rana

Senior Vice President, General Manager, Lending

Appointment to joint Office of the CEO

Effective: 2026-04-04

Interim co-principal executive officer pending permanent CEO appointment

Exhibits (2)

8-K

99.1

EX-99.1