EX-99.1 2 lpro-20251119ex991.htm EX-99.1 Document Open Lending Appoints Abhijit Chaudhary to Board of Directors Seasoned Fintech Leader Joins Board, Bringing Over Two Decades of Expertise Driving Product Innovation and Growth Across Consumer Finance AUSTIN, Texas - November 25, 2025 - Open Lending Corporation (NASDAQ: LPRO) (the “Company” or “Open Lending”), a leading provider of lending enablement and risk analytics solutions for financial institutions, today announced the appointment of Abhijit “Abhi” Chaudhary to its Board of Directors as a Class I director, effective November 21, 2025. Mr. Chaudhary will serve on the Company's Audit and Nominating and Corporate Governance Committees. He is replacing Gene Yoon, who is stepping down from the Board. Mr. Chaudhary has been leading product strategy for growth-oriented financial services businesses for over 20 years. Currently he serves as Executive Vice President, Global Debit, Prepaid & Sustainability Products at Mastercard. Prior to joining Mastercard, he served as Pagaya’s Chief Product Officer, where he drove the company’s technological growth and led product innovation. Before Pagaya, Mr. Chaudhary was Chief Product Off…
Open exhibit ↗Current Report · Items 5.02, 9.01 · 8-K
Open Lending Corporation
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 19, 2025, Gene Yoon resigned his position as a director of Open Lending Corporation (the “Company”). Mr.…
Company context
Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling, and default insurance to auto lenders throughout the United States. For over 25 years, Open Lending has been empowering financial institutions to create profitable auto loan portfolios with less risk and more reward.
Disclosure sections
Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 19, 2025, Gene Yoon resigned his position as a director of Open Lending Corporation (the “Company”). Mr. Yoon’s resignation is not the result of any dispute or disagreement with the Company or the Board of Directors (the “Board”) on any matter relating to the operations, policies, or practices of the Company.
Effective November 21, 2025, the Board appointed Abhijit Chaudhary to serve as a director to fill the vacancy created by the resignation of Mr. Yoon. Mr. Chaudhary’s term as a director will expire at the 2027 Annual Meeting of Stockholders. Mr. Chaudhary was also appointed to serve as a member of the Board’s Audit Committee and Nominating and Corporate Governance Committee.
Mr. Chaudhary serves as Executive Vice President, Global Debit, Prepaid & Sustainability Products of Mastercard Inc. Mr. Chaudhary previously served as Chief Product Officer of Pagaya Technologies Ltd. from October 2023 until November 2025. Prior to that, Mr. Chaudhary served as Chief Product Officer of Green Dot Corporation from January 2022 until October 2023. Mr. Chaudhary previously served in other roles at Green Dot Corporation, including EVP, Head of Direct to Consumer from January 2021 until December 2022 and General Manager, Direct to Consumer from June 2018 until December 2020. Mr. Chaudhary received a Bachelor of Science degree in Computer Engineering from University of Pune and a Master of Business Administration degree from Texas Tech University.
There are no arrangements or understandings between Mr. Chaudhary and any other person pursuant to which Mr. Chaudhary was selected as a director, and Mr. Chaudhary is not a participant in any related party transactions required to be disclosed pursuant to Item 404(a) of Regulation S-K.
The Company has entered into its standard form of director indemnification agreement with Mr. Chaudhary, the form of which is filed as Exhibit 10.11 to the Company’s Current Report on Form 8-K filed on June 16, 2020.
On November 25, 2025, the Company issued a press release in connection with the foregoing announcement. A copy of this press release is filed as Exhibit 99.1 to this report on Form 8-K.