Better Home & Finance Holding Company
12/22/2025 | Press release | Distributed by Public on 12/22/2025 07:06
Management Change/Compensation (Form 8-K)
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Financial Officer
On December 17, 2025, the Board of Directors of Better Home & Finance Holding Company (the "Company") appointed Loveen Advani, 49, as the Company's Chief Financial Officer, effective February 2, 2026 (the "Effective Date"). Mr. Advani will assume the roles of principal financial officer and principal accounting officer of the Company, effective at the Effective Date.
Mr. Advani joins the Company from Zeta Global Holdings Corp. (NYSE:ZETA), a marketing technology company, where he has served as Executive Vice President, Finance from April 2024 until his departure in January 2026, and served as Senior Vice President, Financial Planning and Analysis from March 2020 until March 2024. From June 2018 until March 2020, he served as Senior Vice President, FP&A and Investments at LivePerson, Inc. (Nasdaq: LPSN), a provider of predictable conversational AI and digital transformation. He also served as Vice President, Head of Corporate Development at Inovalon Holdings, Inc. (formerly Nasdaq: INOV), a technology company. Mr. Advani also held finance positions at Aetna and IBM Corporation. Mr. Advani holds a Bachelor of Engineering, with honours, from the University of Mumbai and a M.B.A. from The University of Chicago, Booth School of Business.
Mr. Advani has entered into an employment agreement with the Company (the "Employment Agreement"), pursuant to which he will receive an annual base salary of $450,000 and will be eligible to receive a target performance bonus of 100% of his base salary. In addition, Mr. Advani will be granted 110,000 restricted stock units ("RSUs"), which will vest in twelve (12) equal installments, with the first installment vesting on the last business day of the fiscal quarter following the Effective Date and the remainder vesting on the first business day of each fiscal quarter thereafter. Mr. Advani will also be granted (1) 50,000 performance restricted stock units ("PSUs"), which will be earned upon the achievement of certain stock price performance goals, and (2) 50,000 PSUs, which will be earned upon the achievement of certain Company revenue performance goals. In each case, (1) the performance goals must be achieved between October 1, 2025 and December 31, 2030, or will otherwise be forfeited for no consideration, and (2) 25% of PSUs will time vest on the 12-month anniversary of the grant date and the remaining balance of which will vest in equal quarterly installments over the following 36 months. Both the performance goals and time criteria must be achieved for the applicable PSUs to fully vest, subject to Mr. Advani's continued service. The RSUs and PSUs are subject to certain accelerated vesting events, including accelerated vesting of the awards upon a termination of employment by the Company without cause or by the individual for good reason in connection with or following a change in control, as provided in the Severance Plan (as defined below).
In addition, pursuant to the Employment Agreement, if Mr. Advani is terminated by the Company Without Cause or by Mr. Advani for Good Reason (each as defined in the Employment Agreement), then, among other things, (1) if termination occurs prior to the twelve (12) month anniversary of the Effective Date, he will be eligible to receive a severance payment equal to six (6) months' salary and a pro-rated bonus, (2) if termination occurs after such twelve-month period, he will be eligible to receive a severance payment equal to three (3) months' salary and a pro-rated bonus, and (3) any PSUs that have been earned in accordance with the performance goals provided in the applicable award agreement and any RSUs will vest pro rata, notwithstanding any service or time vesting requirements provided for in the applicable award agreement.
In connection with the entry into the Employment Agreement, Mr. Advani entered into a Confidential Information, Invention Assignment and Arbitration Agreement, a form of which is attached to the Employment Agreement, which contains, among other provisions, customary confidentiality and assignment of inventions provisions, as well as (1) standard non-compete and service provider/customer non-solicitation restrictions, effective during employment and for twelve (12) months thereafter, and (2) non-disparagement provisions, effective during and after employment.
The foregoing description of the Employment Agreement does not purport to be complete and is subject to and qualified in its entirety by reference to the Employment Agreement, a copy of which will be filed as an exhibit
to the Company's Annual Report on Form 10-K for the fiscal year ending December 31, 2025, and is incorporated herein by reference.
Mr. Advani will also participate in the Company's Executive Change in Control Severance Plan (the "Severance Plan"), which is described in the Company's definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on April 30, 2025. Mr. Advani has also entered into the Company's standard form of indemnification agreement for directors and officers.
Other than the Employment Agreement, there is no arrangement or understanding between Mr. Advani and the Company or any other person pursuant to which Mr. Advani was appointed as Chief Financial Officer of the Company. There is no family relationship between Mr. Advani and any other director or executive officer of the Company. There are no transactions involving the Company and Mr. Advani that the Company would be required to disclose pursuant to Item 404(a) of Regulation S-K.
Item 8.01 Other Events.
At-The-Market Offering Program and Capital Strategy Update
As previously disclosed, on September 26, 2025, the Company implemented an at-the-market equity offering program (the "ATM Program") pursuant to sales agreements with Cantor Fitzgerald & Co. and BTIG, LLC, under which the Company may offer and sell shares of its Class A common stock having an aggregate offering price of up to $75.0 million. As of November 13, 2025, the Company had disclosed the sale of approximately $17.7 million of shares of its Class A common stock under the ATM Program.
Subsequently, the Company sold additional shares under the ATM Program and has sold more than $35 million of its shares of Class A common stock in the aggregate under the ATM Program as of December 19, 2025.
The Company intends to raise capital only to the extent necessary to support the execution of its business plan. Accordingly, the Company continues to evaluate alternatives to reduce its capital requirements, including reducing reliance on the ATM Program, with the objective of minimizing potential dilution while supporting anticipated business growth. In this regard, the Company is in active discussions with its existing warehouse lenders as well as new financing counterparties for financing its loan production at higher advance rates and has received multiple proposals that, if completed, would reduce the amount of capital required to expand its warehouse facilities. These discussions are subject to negotiation and documentation, and no assurance can be given that any such arrangements will be consummated.
Better Home & Finance Holding Company published this content on December 22, 2025, and is solely responsible for the information contained herein. Distributed via EDGAR on December 22, 2025 at 13:07 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]