Pursuant to the terms of the Offerpad Solutions Inc. 2021 Incentive Award Plan (the “2021 Plan”), the number of shares of the Company’s Class A common stock available for issuance under the 2021 Plan increases annually on the first day of each calendar year through January 1, 2031. The overall share limit automatically increased by 2,042,056 shares on January 1, 2026, following which, there are 7,382,591 shares reserved for issuance under the 2021 Plan as of March 31, 2026.

As of March 31, 2026, the Company has outstanding restricted stock units (“RSUs”), other stock or cash-based awards, and stock options that have been granted under the 2021 Plan.

Pursuant to the terms of the Offerpad Solutions Inc. 2021 Employee Stock Purchase Plan (“ESPP”), the number of shares of the Company’s Class A common stock available for issuance under the ESPP increases annually on the first day of each calendar year through January 1, 2031. The overall share limit automatically increased by 135,798 shares on January 1, 2026, following which, there are 419,674 shares reserved for issuance under the ESPP as of March 31, 2026. No shares have been issued under the ESPP.

The following summarizes RSU award activity during the three months ended March 31, 2026:


	Number of RSUs (in thousands)			Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2025		4,757		$	1.96
Granted		664			1.07
Vested and settled		(76	)		1.90
Forfeited		(73	)		1.38
Outstanding as of March 31, 2026		5,272			1.86

As of March 31, 2026, 0.3 million RSUs have vested, but have not yet been settled in shares of the Company’s Class A common stock, pursuant to elections made by certain non-employee members of the Board to defer settlement thereof under the Offerpad Solutions Inc. Deferred Compensation Plan for Directors.

As of March 31, 2026, the Company had $5.5 million of unrecognized stock-based compensation expense related to unvested RSUs. This expense is expected to be recognized over a weighted average period of 2.12 years. The fair value of RSUs that vested and settled during the three months ended March 31, 2026 and 2025 was $0.1 million and $1.5 million, respectively.

The Company did not grant any other cash or stock-based awards during the three months ended March 31, 2026.

As of March 31, 2026, the Company had $1.2 million of unrecognized stock-based compensation expense related to unvested other cash or stock-based awards granted in prior periods. This expense is expected to be recognized over a weighted average period of 1.70 years.

The following summarizes stock option activity during the three months ended March 31, 2026:


	Number of Shares (in thousands)			Weighted- Average Exercise Price Per Share		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2025		641		$	11.30		1.61	$	—
Granted		—			—
Exercised		—			—
Forfeited, canceled or expired		(74	)		18.52
Outstanding as of March 31, 2026		567			10.35		1.51		—
Exercisable as of March 31, 2026		566			10.34		1.50		—
Vested and expected to vest as of March 31, 2026		567			10.35		1.51		—

As of March 31, 2026, the Company had less than $0.1 million of unrecognized stock-based compensation expense related to unvested stock options. This expense is expected to be recognized over a weighted average period of 0.26 years. The fair value of stock options that vested during the three months ended March 31, 2026 and 2025 was $0.1 million and $0.2 million, respectively.

The following details stock-based compensation expense for the respective periods:


	Three Months Ended March 31,
($ in thousands)	2026		2025
Sales, marketing and operating	$	161	$	479
General and administrative		709		1,145
Technology and development		72		158
Stock-based compensation expense	$	942	$	1,782