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Concerned Shareholders of Oportun Financial Corporation Call for Board Member Ginny Lee to Resign Immediately

HOUSTON--(BUSINESS WIRE)--Bradley Radoff and Josh Schechter (together with their affiliates, the “Concerned Shareholders”) today issued the following open letter to the Board of Directors of Oportun Financial Corporation (NASDAQ: OPRT).

***

March 16, 2026

Oportun Financial Corporation
1825 South Grant Street, Suite 850
San Mateo, CA 94402
Attention: The Board of Directors

Subject: Why Ginny Lee Must Immediately Resign

Members of the Board of Directors (the “Board”),

As you know, we have been shareholders of Oportun Financial Corporation (“Oportun” or the “Company”) for multiple years. We are writing to make clear our perspective that long-time director Ginny Lee should immediately resign from the Board.

While it is positive that former Lead Independent Director R. Neil Williams has departed the Board and that failed CEO Raul Vazquez will be leaving the Company over the next month, Ms. Lee somehow remains despite the Company’s awful performance during her tenure:

 

1 Year

3 Year

Ginny Lee Tenure

Start Date

3/13/2025

3/13/2023

9/1/2021

End Date

3/13/2026

3/13/2026

3/13/2026

Oportun

(24.1%)

1.7%

(83.3%)

OneMain Holdings, Inc.

23.8%

88.2%

33.9%

Source: FactSet. Total returns as of March 13, 2026.

While serving as Chair of the Nominating, Governance and Social Responsibility Committee, Ms. Lee empowered a group of entrenched, value-destroying legacy directors to dominate decision-making, allowed long-tenured, inexperienced directors to remain in power (in some cases, despite them failing to receive sufficient shareholder support for their reelection), demonstrated an unwillingness to respond to shareholders’ concerns and enabled serious entrenchment maneuvers, including the forced removal of independent director Scott Parker in May 2025.

Ms. Lee simply has no qualifications to serve on the Company’s Board:

  • Her nonprofit experience at Khan Academy is irrelevant to Oportun’s lending business.
  • Ms. Lee lacks public company board experience outside of Oportun, adding to our concerns about her ability to effectively govern the Company.
  • During her time on the Board, she has overseen negative returns and massive underperformance versus the Company’s closest competitor.
  • Ms. Lee received support from just 28% of the total outstanding shares at the uncontested 2024 Annual Meeting, the last time she was up for reelection.1
  • She has enabled Oportun to continue to have a classified Board, insulating directors from yearly accountability to shareholders.

Shareholders do not want a director who has proven herself unable or unwilling to make the necessary changes to improve the Company. We urge the Board to remove Ms. Lee from the Board to allow Oportun to finally move forward under a new CEO.

Sincerely,

Brad Radoff & Josh Schechter

 

1 Company Form 8-K dated June 28, 2024.

 

Contacts

Greg Lempel
greg@fondrenlp.com

Industry:

On behalf of Bradley L. Radoff and Josh Schechter

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Contacts

Greg Lempel
greg@fondrenlp.com

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