Oportun Stockholders Urged to Elect Consumer Financial Services Expert to Board

Findell Capital Management urges Oportun stockholders to vote for an independent consumer financial services expert to the board. Oportun Financial Corporation offers a suite of financial products, including unsecured and secured personal loans, and a savings product, through its mobile app and website. The company aims to provide access to larger loan sizes and assist members with overall financial health.

Oportun Financial Corporation (Nasdaq: OPRT), a mission-driven financial services company, has issued a letter to stockholders urging them to vote for Raul Vazquez and Carlos Minetti for the Board of Directors at the upcoming 2025 Annual Meeting of Stockholders. The letter, released on June 2, 2025, highlights the company's strong financial performance and the critical role of the Board in overseeing its progress [1].

Oportun's Q1 2025 performance reflects significant growth, with aggregate originations increasing by nearly 40% year-over-year. The company's adjusted operating expense ratio reached 13.3%, its second lowest ever as a public company, and credit metrics, including a fifth consecutive year-over-year decline in 30+ day delinquency rate, have improved. The company expects 2025 adjusted EPS guidance of $1.10 to $1.30, reflecting year-over-year growth of 53% to 81% [1].

The Board of Directors, led by CEO Raul Vazquez and independent director Carlos Minetti, has overseen these improvements. Vazquez, with his deep understanding of Oportun's business, has been instrumental in leading the company through its transformation and economic cycles. Minetti brings over 35 years of experience in consumer lending and credit risk, having held leadership roles at companies like Stripe, Discover, and American Express [1].

Findell Capital Management, however, has proposed to remove CEO Raul Vazquez from the Board, arguing for an independent consumer financial services expert. Oportun's Board contends that Vazquez's experience and insight are crucial for the company's continued success and that Findell's nominee lacks the necessary expertise [1].

Stockholders of record as of May 27, 2025, are entitled to vote at the Annual Meeting, scheduled for July 18, 2025. Oportun urges stockholders to vote "FOR" Vazquez and Minetti using the GREEN proxy card or GREEN voting instruction form. Additional information for stockholders can be found at VoteForOportun.com [1].

References:
[1] https://investor.oportun.com/news-events/press-releases/detail/157/oportun-issues-letter-to-stockholders-and-mails-definitive