Eric A. Feldstein
About Eric A. Feldstein
Eric A. Feldstein, age 65, is a Class I independent director of Open Lending Corporation and serves as Audit Committee Chair; he has been on the board since 2020 and his current term expires at the 2027 annual meeting . Feldstein is Executive Vice President and Chief Financial Officer of New York Life Insurance Company (since October 2019), and holds a BA from Columbia University and an MBA from Harvard Business School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| New York Life Insurance Company | EVP & CFO | Oct 2019–present | Oversees actuarial, finance, treasury, controller, risk management |
| Health Care Service Corporation | CFO | 2016–2019 | Financial leadership and risk oversight |
| American Express | Executive Vice President | 2010–2016 | Senior finance/operations leadership |
| General Motors | Treasurer; later CEO of GMAC Financial Services | Treasurer 1997–2002; CEO GMAC 2002–2008 | Corporate finance, capital markets, lending operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| New York Life Insurance Company | EVP & CFO | Oct 2019–present | Largest mutual life insurer in U.S.; finance and risk leadership |
| Education | BA, Columbia University; MBA, Harvard Business School | — | Academic credentials |
Board Governance
- Classification and independence: Class I director; board determined Feldstein meets SEC/Nasdaq independence standards .
- Committee assignments: Audit Committee Chair; audit members were Feldstein, Hegge, Rao (Rao not seeking re-election); Greenberg will join audit after the Annual Meeting .
- Committee meeting cadence (FY 2024): Audit 4; Compensation 4; Nominating & Governance 6 .
- Board meetings and attendance: Board held 6 meetings in 2024; each director attended at least 75% of board/committee meetings during their service; all eight then-serving directors attended the 2024 annual meeting .
- Leadership structure: CEO and Chair roles are combined (Chair: Jessica Buss); no Lead Independent Director .
- Audit committee qualifications: All audit members, including Feldstein, are designated “audit committee financial experts” and meet Nasdaq/SEC independence and financial literacy standards .
Fixed Compensation
| Component (2024) | Amount |
|---|---|
| Fees earned or paid in cash | $70,000 |
| Stock awards (grant-date fair value) | $149,995 |
| Total | $219,995 |
Director compensation policy (amended May 1, 2024) for Outside Directors sets cash retainers (Board $50,000; Audit Chair $20,000; Audit member $10,000; additional chair/member fees as listed) and annual RSU awards of ~$150,000 (Chair receives an additional ~$100,000 RSU), with vesting on the earlier of first anniversary or next Annual Meeting; Investor Directors (Nebula/Bregal designees) are ineligible for board compensation .
Performance Compensation
- Annual director equity: RSUs granted with ~$150,000 grant-date value; vest on the earlier of first anniversary or next Annual Meeting; full acceleration upon a “sale event” (as defined in the 2020 Plan) .
- Performance metrics tied to director pay: None disclosed for directors; RSUs are time-based for Outside Directors .
| Metric | Target | Measurement | Result |
|---|---|---|---|
| Performance metrics in director compensation | Not applicable | — | No performance-linked director pay disclosed |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Notes |
|---|---|---|---|
| None disclosed | — | — | Feldstein’s biography lists executive roles (NY Life, HCSC, American Express, GM/GMAC) but does not disclose other public company directorships . |
| Compensation committee interlocks | Company-wide disclosure | — | Company reports no compensation committee interlocks; Feldstein is not on the compensation committee . |
Expertise & Qualifications
- Board skills matrix: Finance/Accounting; Risk Management; Insurance; Consumer Finance/Lending; Banking/Financial Institutions; Audit Committee Financial Expert; Corporate Governance; Public Company Board Experience checked for Feldstein .
- Audit and risk oversight expertise reinforced by current CFO role and prior senior finance roles .
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership | 46,156 shares of common stock (includes RSUs vesting within 60 days) |
| RSUs vesting within 60 days (included above) | 23,455 shares |
| Shares outstanding (basis for % ownership) | 119,782,899 (as of Mar 27, 2025) |
| Ownership as % of common shares | ~0.0385% (46,156 / 119,782,899) |
| Pledging/hedging | Company policy prohibits pledging/derivative/hedging transactions by insiders unless approved by Audit Committee; short sales are prohibited; no pledging disclosed for Feldstein |
Insider Trades
| Date | Form | Transaction | Notes/Source |
|---|---|---|---|
| May 21, 2025 | Form 4 | RSUs vested and converted into shares of LPRO common stock | Reflects RSUs converting upon vesting; issuer reports Form 4 filed May 23, 2025 |
Governance Assessment
- Strengths: Independent status; Audit Committee Chair with “financial expert” designation; robust audit oversight and clear committee cadence; company prohibits pledging/hedging and short sales for insiders, reducing alignment risks . Director equity is time-based and vests annually, enhancing alignment without short-term performance gaming .
- Engagement: Board met 6 times in 2024; each director attended at least 75% of meetings; all directors attended 2024 annual meeting—positive attendance and engagement signal .
- Compensation alignment: Outside director compensation mix (cash + RSUs) is standard; Feldstein’s 2024 compensation totaled $219,995 with $149,995 RSUs, indicating equity-heavy alignment .
- Risks/Red Flags: Combined CEO-Chair structure with no Lead Independent Director may constrain independent oversight; audit committee transition (Rao leaving; Greenberg joining) warrants monitoring for continuity . No related-party transactions disclosed involving Feldstein; related transactions disclosed pertain to investor stockholders (Bregal Sagemount, Nebula) .
- Shareholder sentiment: 2024 say‑on‑pay approved at ~89.9%, suggesting overall compensation framework support (company-level indicator) .
Overall, Feldstein’s independence, audit expertise, and equity alignment support investor confidence; the primary governance watchpoint is the combined Chair/CEO structure and continued audit committee effectiveness through membership changes .