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.

On May 1, 2026, Timothy Terry retired as principal executive officer of OptimumBank Holdings, Inc. (the "Company") and as President and Chief Executive Officer of its wholly-owned subsidiary, OptimumBank. Mr. Terry will assist with the transition of leadership described below.

Effective the same date: (i) the Company appointed its Chairman of the Board, Moishe Gubin, as its Chief Executive Officer and principal executive officer; and (ii) the Bank appointed Mr. Gubin as its Chief Executive Officer.

Also effective the same date, the Bank appointed Braden R. Smith as its President. Mr. Smith, age 52, served as Chief Business Development Officer of Amerant Bank from November 2024 through April 2026, and as Executive Vice President of Wintrust Financial Corporation from September 2009 to November 2024.