Shrisha Radhakrishna
Opendoor TechnologiesAbout Shrisha Radhakrishna
President (and former Chief Technology & Product Officer) at Opendoor Technologies (OPEN). Joined Opendoor in November 2024 as Chief Technology & Product Officer, appointed President and interim principal executive officer on August 15, 2025, and ceased interim status upon the appointment of a new CEO on September 10–11, 2025 . Prior roles include Chief Technology & Product Officer at LegalZoom and senior product leadership at Intuit; education includes a B.E. in Information Sciences (Bangalore University) and an MBA from Northwestern Kellogg . Company context: Opendoor sold ~18,700 homes and generated $6.9B revenue in 2023 (CAGR >45% since 2017); NPS ~80 from sellers since 2021 . Executive compensation practices have shifted toward performance alignment with say‑on‑pay approval rising to ~91% in 2024 from 75% in 2023 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Opendoor Technologies | President; interim principal executive officer (PEO) | Aug 2025–Sept 2025 (interim PEO), continuing as President | Executive leadership through CEO transition; operational oversight |
| Opendoor Technologies | Chief Technology & Product Officer | Nov 2024–Aug 2025 | Led product and engineering; customer experience innovation |
| LegalZoom.com, Inc. | Chief Technology Officer; Chief Technology & Product Officer | Aug 2020–Nov 2024 (CTO to Nov 2021; then CT&PO) | Modernized platform; scaled small‑business legal services |
| Intuit Inc. | VP Product Development; various leadership roles | ~Aug 2016–Aug 2020; prior decade+ | Built QuickBooks Self‑Employed & QuickBooks Online; high‑growth product lines |
External Roles
- None disclosed in Opendoor filings for Radhakrishna. If any board/advisory roles exist, they were not reported in Opendoor SEC documents and should be considered not disclosed.
Fixed Compensation
| Component | 2024 | 2025 | Notes |
|---|---|---|---|
| Base Salary (annual rate) | $500,000 | $700,000 effective Aug 15, 2025 | Base moved with promotion to President |
| Target Annual Bonus % | 50% of base salary | 50% of base; 2025 bonus guaranteed $500,000 | Bonus criteria set by Board/Comp Committee |
| Special/Retention Bonuses | N/A | $250,000 one‑time cash bonus upon becoming President/Interim PEO (payable after Aug 26, 2025) | Transitional compensation |
Performance Compensation
| Metric | Type | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual cash bonus (2025) | Short‑term incentive | Not disclosed | Not disclosed (guaranteed $500,000) | N/A | $500,000 (guaranteed) | Cash |
| PRSUs (company program) | Long‑term incentive | Increased to 26% of target comp in 2024 and 45% in 2025 on aggregate NEO basis | Homes acquired and homes sold objectives (introduced 2024) | Not disclosed | Not disclosed | Subject to performance achievement |
- Opendoor introduced formulaic performance metrics for annual bonuses and PRSUs tied to operational goals (path to profitability) with explicit pay‑for‑performance philosophy; individual NEO weightings and outcomes not disclosed for Radhakrishna .
Equity Ownership & Alignment
| Item | Details |
|---|---|
| Stock Ownership Guidelines | Execs must hold vested shares equal to the lesser of 3x base salary or 225,000 shares within five years; CEO 6x or 450,000 shares; directors 5x or 60,000 shares |
| Compliance Status (as of Dec 31, 2024) | Each current executive officer except Mr. Freiha had met ownership guidelines; suggests Radhakrishna compliant (within five‑year accumulation window) |
| Hedging/Pledging | Hedging prohibited; short sales and derivatives banned; pledging requires Chief Legal Officer consent; margin accounts prohibited |
| Trading Plans | Adopted Rule 10b5‑1 plan Aug 5, 2025 covering RSU sell‑to‑cover; a separate Rule 10b5‑1 trading arrangement contemplated sales of up to 1,402,500 shares vesting between Nov 15, 2025 and Oct 15, 2026; one plan terminated Aug 15, 2025 |
Insider selling pressure indicators:
- Scheduled 10b5‑1 “sell‑to‑cover” for RSU tax obligations (structural, not discretionary sales) .
- A Rule 10b5‑1 arrangement contemplated sales up to 1,402,500 shares aligned with RSU vesting dates (Nov 2025–Oct 2026), indicating expected supply from vested equity over the period .
Employment Terms
| Term | Initial (CT&PO offer, Sept 10, 2024) | Amended (President/Interim PEO, Aug 26, 2025) |
|---|---|---|
| Start Date | No later than Nov 16, 2024 | Role change Aug 26, 2025; interim PEO from Aug 15, 2025 |
| At‑will employment | Yes | Yes |
| Severance Plan Tier | Tier 2 upon commencement | Tier 1 designation upon becoming President/Interim PEO |
| Office expectations | SF Bay Area; in‑office 3 days/week | SF Bay Area; in‑office 3 days/week |
Severance and Change‑in‑Control Economics (Executive Severance Plan):
| Scenario | Tier 1 (CEO‑level) | Tier 2 (other execs) |
|---|---|---|
| Non‑CIC Qualifying Termination (Good Reason or without Cause) | Cash: base salary + target bonus paid over 12 months; COBRA up to 12 months; Partial acceleration of time‑based equity vesting over 12 months | Cash: 0.5x base salary over 6 months; COBRA up to 12 months; Partial acceleration of time‑based equity vesting over 6 months (or 12 months if <12 months of employment) |
| CIC Qualifying Termination (within 3 months before/12 months after CIC) | Cash: 1.5x base salary; pro‑rata target bonus; COBRA up to 18 months; 100% acceleration of time‑based equity vesting | Cash: 1.0x base salary; pro‑rata target bonus; COBRA up to 12 months; 100% acceleration of time‑based equity vesting |
| Conditions | Release of claims; continued compliance with restrictive covenants | Release of claims; continued compliance with restrictive covenants |
Clawback Policy:
- Mandatory recovery of erroneously awarded incentive compensation following accounting restatements per Rule 10D‑1 and Nasdaq listing standards .
Compensation Committee Analysis
- Independent Compensation Committee; engages Compensia as independent consultant (no conflicts in 2024) .
- Peer group refined in Oct 2024 with emphasis on industry, gross margin, market cap; compensation decisions do not target fixed percentiles; 2024–2025 peer groups include consumer tech/real estate services (e.g., Zillow, Redfin, Offerpad, Compass, Carvana, Wayfair) .
- Governance practices: double‑trigger CIC, robust ownership guidelines, prohibition on hedging/pledging, annual compensation review .
Say‑on‑Pay & Shareholder Feedback:
- Say‑on‑pay approval ~91% in 2024, up from 75% in 2023 after adding formulaic metrics and PRSUs; continued focus on performance‑based pay in 2025 .
Performance & Track Record
- Achievements: Led technology and product transformations at LegalZoom; pioneered QuickBooks SE/O for Intuit; recruited to scale Opendoor’s customer experience and product innovation .
- Tenure at Opendoor includes interim PEO during CEO transition in 2025, suggesting board confidence in operational leadership .
- Company operations overview for context: 246,000+ homes bought/sold since launch; $6.9B revenue in 2023; high NPS; these indicate scale and customer satisfaction, though not directly attributable to Radhakrishna’s tenure .
Risk Indicators & Red Flags
- Trading arrangements: 10b5‑1 sell‑to‑cover and contemplated RSU sales up to 1,402,500 shares through 2026 may create periodic selling pressure aligned with vesting dates .
- Hedging/pledging restrictions and clawback policy mitigate alignment risks .
- Tax gross‑ups: none; shareholder‑friendly practice .
- No disclosed related‑party transactions or legal proceedings related to Radhakrishna in Opendoor filings to date .
Equity Ownership & Vesting Schedules (Detail)
| Item | Dates | Shares/Value |
|---|---|---|
| RSU vesting cadence (as referenced in trading plan) | Various vesting dates between Nov 15, 2025 and Oct 15, 2026 | Trading arrangement contemplated sales up to 1,402,500 shares tied to RSUs vesting over these dates |
| 10b5‑1 Sell‑to‑Cover Instruction Letter | Adopted Aug 5, 2025 | Applies to all RSUs granted/to be granted; shares sold only to cover taxes; open‑ended with no set expiration |
Note: Detailed grant sizes, strike prices, and vesting schedules for Radhakrishna’s specific RSU/PSU awards were not disclosed in Opendoor filings reviewed. The CFO’s RSU grant detail was disclosed separately and is not applicable to Radhakrishna .
Investment Implications
- Pay‑for‑performance alignment strengthening: formulaic bonuses and PRSUs tied to operating metrics (homes acquired/sold; path to profitability) should incentivize execution against core levers (inventory turns, margin, cost efficiency) .
- Retention risk appears mitigated: 2025 guaranteed bonus ($500k), special transitional bonus ($250k), and Tier 1 severance upgrade indicate strong commitment to retain and empower Radhakrishna post‑promotion .
- Insider supply cadence: RSU vesting through late‑2025/2026 with contemplated 10b5‑1 sales up to 1.4M shares may create episodic selling pressure; however, sell‑to‑cover mechanics limit discretionary impact .
- Governance: double‑trigger CIC, clawbacks, no gross‑ups, and ownership guidelines reduce misalignment and compensation risk; improved say‑on‑pay (~91% in 2024) supports current program credibility .
All claims and data are sourced from Opendoor SEC filings and materials: .