Oportun Financial Corporation announced the appointment of William Franklin as Chief Financial Officer and Principal Financial Officer, effective September 8, 2026. The appointment was approved by the Board of Directors on September 5, 2026, and is subject to Mr. Franklin’s commencement of employment and the satisfaction of conditions set forth in an Offer Letter.
Mr. Franklin, age 48, most recently served as Senior Vice President and Chief Financial Officer of Consumer Banking at Discover Financial Services. Discover was acquired by Capital One in May 2025. Prior to his role at Discover, which began in 2008, he held leadership positions including Chief Financial Officer of Payment Services, Assistant Treasurer, and Head of Investor Relations. He holds an M.B.A. from the University of Virginia Darden School of Business and a B.S. in Finance from Miami University.
Joseph Schueller will continue to serve as Senior Vice President, Finance - Controller and Principal Accounting Officer, but will no longer serve as the Company’s Principal Financial Officer as of the Effective Date.
According to the Offer Letter, Mr. Franklin will receive an annual base salary of $500,000. He is eligible for an annual incentive program with a target bonus opportunity for 2026 equal to 75% of his base salary, which will be prorated based on the number of days employed during the fiscal year. Additionally, he is eligible for a $200,000 signing bonus, which will vest and be earned on the six-month anniversary of the Effective Date, provided he continues employment through that date.
As an inducement to enter into employment, Mr. Franklin is expected to be granted a long-term equity award in December 2026. The award consists of 276,626 restricted stock units (RSUs). Seventy-five percent of the award will vest over three years, with one-third vesting on the first anniversary and the remaining two-thirds vesting in eight quarterly installments. The remaining 25% vests on the third anniversary. The award will be granted pursuant to the Oportun Financial Corporation Amended and Restated 2021 Inducement Equity Incentive Plan, subject to Nasdaq Listing Rule 5635(c)(4).
Mr. Franklin is also eligible to participate in the Company’s Amended and Restated Executive Severance and Change in Control Policy at the Tier I level. The Company stated there are no family relationships between Mr. Franklin and any director or executive officer, and he does not have a direct or indirect material interest in any other transactions required to be disclosed.
