Opendoor Revises New Director Michael Alfred's Stock Grant To 57,834 Units
An amended filing changes the calculation of the restricted stock units given to the investor who joined the board as a Class I director.
Opendoor Technologies, which buys homes directly from sellers and resells them, has now disclosed in an amended filing that new director Michael Alfred received 57,834 restricted stock units, a revised calculation of the award first reported in its original filing of October 29.
A recalculated board grant
The 8-K/A, signed Monday, amends only the grant count. Opendoor said nothing else in its original report has changed.
The units were granted under the company's 2020 Incentive Award Plan and represent a prorated annual equity award. They vest in full on the date of the 2027 annual meeting of stockholders, provided Alfred keeps serving on the board.
Alfred will otherwise be paid on the same basis as the company's other non-employee directors, as described in its proxy statement filed April 28, 2026. He has also signed the company's standard indemnification agreement for directors and officers.
Class I seat and governance role
The board approved Alfred's appointment on October 28, effective October 29, as a Class I director. His term expires at the 2027 annual meeting.
He also joined the board's Nominating and Corporate Governance Committee, and the board determined he is independent under Nasdaq listing standards. The filing says no arrangement or understanding with any other person led to his selection.
Alfred founded Alpine Fox LP, a private investment partnership focused on value equities and Bitcoin, in January 2023. A company press release said Alpine Fox is also an Opendoor shareholder.
A data and digital-assets résumé
Alfred has sat on the board of IREN, an AI data center developer and Bitcoin miner, since October 2021. He joined the board of Bakkt Holdings, a digital payments company, in September 2025.
He co-founded and ran BrightScope, a financial information company, from February 2008 until Strategic Insight bought it in October 2016. He then spent time as a managing director at Strategic Insight, and from January 2018 co-founded and led Digital Assets Data until its sale to New York Digital Investment Group in November 2020.
Since July 2020 he has advised the CEO of Amenify, a real estate technology company, and he sits on the boards of two private firms, Eaglebrook Advisors and Wealthie. He holds a B.A. in History from Stanford.
The business he joins
Opendoor uses a website, a mobile app and AI-based pricing to buy homes and resell them. Its Cash Offer product pays homeowners in cash. In 2025 it sold over 11,700 homes and generated $4.4 billion in revenue, according to its annual report.
Alfred's term and his unit vesting both land at the 2027 annual meeting of stockholders.
Sources
- 8-K/A Filing (Amendment) — Opendoor Technologies Inc. (OPEN) — SEC EDGAR
- Original 8-K — Opendoor Technologies Inc. (filed 2026-10-29) — SEC EDGAR
- Mike Alfred joins Opendoor Board of Directors — rss.globenewswire.com
