Oportun Financial Corporation filed a Form 8-K on September 11, 2026, disclosing the appointment of William Franklin as Chief Financial Officer and principal financial officer, effective September 8, 2026.

Key Highlights

  • New CFO appointed: William Franklin, age 48, was appointed Chief Financial Officer and principal financial officer of Oportun Financial Corporation, effective September 8, 2026.
  • Base salary: Franklin will receive an annual base salary of $500,000 under his Offer Letter dated August 31, 2026.
  • Target bonus: Franklin is eligible for a 2026 annual bonus target equal to 75% of his base salary, prorated based on days employed during the fiscal year.
  • Signing bonus: A $200,000 signing bonus will vest on the six-month anniversary of the effective date, subject to continued employment or a Qualifying Termination before that date.
  • Equity award: Franklin is expected to receive a new hire award of 276,626 restricted stock units, anticipated to be granted in December 2026.
  • Prior role: Franklin most recently served as Senior Vice President, Chief Financial Officer of Consumer Banking at Discover Financial Services, a position he held from July 2021 to June 2025.
  • Principal accounting officer unchanged: Joseph Schueller will continue as Senior Vice President, Finance - Controller and principal accounting officer but will no longer serve as principal financial officer as of the effective date.

Oportun Discloses CFO Appointment Terms and Franklin's Background

According to the filing, the Board of Directors of Oportun Financial Corporation (NASDAQ:OPRT) appointed William Franklin as Chief Financial Officer and principal financial officer on September 5, 2026, with an effective date of September 8, 2026. The appointment was subject to Franklin's commencement of employment and satisfaction of conditions set forth in the Offer Letter dated August 31, 2026. The company also disclosed that a press release announcing the appointment was issued on September 8, 2026.

The filing describes Franklin's professional background at Discover Financial Services, where he held roles including Chief Financial Officer of Consumer Banking, Chief Financial Officer of Payment Services, Assistant Treasurer, and Head of Investor Relations, with his tenure at Discover beginning in 2008. Discover was acquired by Capital One in May 2025, according to the filing. Franklin holds an M.B.A. from the University of Virginia Darden School of Business and a B.S. in Finance from Miami University.

Regarding the equity grant, the filing states that 75% of the 276,626 RSU New Hire Award will vest over three years, with one-third of that portion vesting on the first anniversary of the grant date and the remaining two-thirds vesting in eight substantially equal quarterly installments thereafter. The remaining 25% will vest on the third anniversary of the grant date. The award is expected to be granted under the Oportun Financial Corporation Amended and Restated 2021 Inducement Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4). The filing further notes that Franklin will participate in the company's Amended and Restated Executive Severance and Change in Control Policy at the Tier I level. The filing states there are no family relationships between Franklin and any director or executive officer of the company.

What Was Disclosed

Oportun Financial Corporation disclosed the appointment of William Franklin as CFO effective September 8, 2026, including his compensation terms, equity grant details, prior experience, and the continuation of Joseph Schueller as principal accounting officer.