Vishal Garg, founder of Better Home & Finance Holding Company (“Better” or the “Company”) (NASDAQ: BETR), and the other members of the Garg Group today announced that the independent inspector of election delivered the final certification of their successful consent solicitation this morning. The Garg Group also provided an update on initial actions following their successful consent solicitation to reconstitute the Company’s Board of Directors (the “Board”).
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Vishal Garg, Founder, Regains Control of Better Home & Finance Board
The final certification from the independent inspector of election confirmed that shareholders representing 52.02% of the Company’s outstanding voting power supported removing each of the five incumbent directors: Chairman Harit Talwar, Interim CEO Daniel Lewis, and directors Arnaud Massenet, Bhaskar Menon, and Prabhu Narasimhan.
“In the last decade, only 1.7% of corporate proxy disputes seeking to replace the Board of a public company succeeded. Overcoming 50-to-1 odds to replace a public company board is a tremendous vote of confidence from our shareholders,” said Vishal Garg, Founder of Better. “We recognize the significant work ahead to execute on Better 2.0, and we are committed to rebuilding trust through transparency, execution and clear results for our next 90 days ahead and beyond.”
“No public CEO has ever been pushed out, litigated the issue, and won his way back in two months. Vishal Garg has been vindicated,” Alex Spiro of Quinn Emanuel added.
To streamline governance, the Board reduced its overall size from nine seats to five. Mr. Garg, as the sole remaining director, appointed Bing Gordon, Steven Sarracino and two current employees of the Company to the Board. The appointments deliver on the Garg Group’s commitment to bring experienced technology and growth investors onto the Board.
Gordon, co-founder of Electronic Arts and Chief Product Officer and advisor at Kleiner Perkins, brings decades of experience building consumer technology businesses. A co-founder of Electronic Arts, the leading video game company, and an Amazon director and Senior Product Advisor to Jeff Bezos from 2003 to January 2018, Gordon helped conceive and launch the loyalty program that became Amazon Prime. He brings expertise in product strategy, customer engagement, and scaling digital platforms. His perspective will help guide Better’s next chapter of AI-native innovation as the Company expands Tinman® and improves the homeownership experience.
Sarracino, founder of Activant Capital, a $1.45 billion venture fund and a former Better investor and director, brings experience investing in and scaling technology businesses, along with direct knowledge of Better’s operations and governance.
The Board is also taking steps to remove the Company’s stockholder rights plan, commonly known as a poison pill, and dismiss the Company’s outstanding litigation against Garg in the U.S. District Court for the Southern District of New York.
An interim CEO candidate has been identified, and the Board is actively working to finalize their engagement. The appointment will be announced once the engagement documentation is complete.
These initial actions advance the governance and leadership priorities of the Garg Group’s previously announced 90-day plan, which also focuses on operational efficiency, growth through Tinman AI and home equity lending, the sale of non-core assets, and returning capital to shareholders.
“We are grateful to the shareholders who supported this effort,” Garg added. “Our focus now is on building Better 2.0 in a better, stronger way than ever before and to create lasting value for shareholders and serve our customers, employees and partners.”
About Better
Better Home & Finance Holding Company (NASDAQ: BETR) is the first AI-native mortgage and home equity finance platform, and first fintech to fund more than $110 billion in loan volume. Better has leveraged its industry-leading AI platform, Tinman®, to achieve its singular mission of making homeownership cheaper, faster, and easier for all Americans. Tinman® allows customers to see their rate options in seconds, get pre-approved in minutes, lock in rates, and close their loan in as little as three weeks. In addition, Betsy™, the first AI loan agent built exclusively for the mortgage industry, revolutionizes the homebuying journey by answering questions, delivering approvals, comparing products, processing rate locks, and moving their loan application along to closing 24/7/365. Better’s mortgage offerings include GSE-conforming mortgage loans, FHA and VA loans, and jumbo mortgage and home equity loans. Better serves customers in all 50 US states and the United Kingdom.
For more information, follow @betrmortgage on X and @betterdotcom on Instagram and TikTok.
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that are not historical facts should be considered forward-looking statements, including, without limitation, statements and expectations regarding the composition of the Board and the Company’s management. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual future events to differ materially from those expressed or implied by the forward-looking statements in this communication. These risks and uncertainties include those risks discussed in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026, as any such factors may be updated from time to time in the Company’s other filings with the SEC. New risks and uncertainties arise from time to time, and it is impossible for Better to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Better undertakes no obligation, except as required by law, to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.
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