Aurora Acquisition (BETR) has shared an update.
Chad Smith has been appointed as the President and Chief Operating Officer of Better Mortgage Corporation, starting retroactively from May 6, 2024. Smith, who was previously the CEO of Mission Loans LLC, will receive an annual salary of $1 million with a 100% target bonus and a guaranteed $500,000 bonus on his first work anniversary. He’s also granted 8 million restricted stock units with specific vesting conditions, and has structured severance entitlements if his employment is terminated under certain circumstances. His experience and compensation package signal Better Mortgage’s commitment to strong leadership in the competitive online mortgage lending market.
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