#USA #New York #Findell Capital #Oportun Financial #Warren Wilcox

Urgent Update from Findell Capital Management

In a recent development for Oportun Financial Corporation, one of its major shareholders, Findell Capital Management LLC, has made a public appeal to fellow stockholders urging them to support changes at the upcoming Annual Meeting. The firm has stressed the necessity to vote using the white proxy card, promoting a resolution that could alter the company's board structure.

Findell Capital Management, which holds a significant stake in Oportun, aims to elect Warren Wilcox, an independent candidate with extensive experience in consumer financial services, to the board. Wilcox’s expertise is seen as vital for revitalizing the company's strategic direction, and Findell believes that his fresh perspective will lead to enhanced shareholder value.

Background on the Proposal

Findell Capital's strategy encompasses not just the election of Wilcox, but also the reelection of Carlos Minetti, who was recently appointed to the board. Minetti brings valuable independence to a board that is perceived as having members closely tied to the current CEO, Raul Vazquez. Findell emphasizes that Minetti’s experience is critical for providing oversight that has been lacking.

The overarching objective is to displace Raul Vazquez from the board, a move that Findell argues is essential for improving governance and accountability. The letter to shareholders highlights a concern that Vazquez's continued presence could obstruct efforts to confront his past management decisions, which shareholders argue have led to diminished value for the company.

Importance of the Upcoming Vote

The urgency of this matter is underscored by the Board's “classified” voting structure, which complicates the ability to vote out existing members in a timely manner. Should Vazquez remain until the next cycle, it could jeopardize efforts for significant change. Findell warns stockholders that if they previously supported Vazquez via the company's proxy card, they can still change their vote by submitting the white proxy card, which would revoke any prior selections.

As the Annual Meeting approaches, Findell Capital Management is encouraging all Oportun stockholders to carefully consider their vote, viewing this as a critical moment for steering the company towards a more positive trajectory. The proposal, they argue, lays the groundwork for a potential turnaround that shareholders have long awaited.

For further details regarding how to cast votes, Findell has provided additional resources on their website, underlining the importance of each stockholder's participation in the decision-making process.

In conclusion, the advocacy from Findell Capital reflects a decisive push within shareholder activism, where collective voices can reshape governance structures in public companies. Stakeholders are urged to vote thoughtfully and consider the long-term implications of their decisions as they engage in this pivotal moment for Oportun Financial.

For more information on how to vote and participate in this significant decision making, visit Opportunity At Oportun.