Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Director not Standing for Election
OnApril 1, 2022 , Mr.Michel Combes and Mr.Carlos Medeiros notified the Board of Directors ofSoFi Technologies, Inc. ("SoFi") that they have decided not to stand for re-election as directors of SoFi. BothMr. Combes andMr. Medeiros are expected to continue as directors until the expiration of their respective terms at the SoFi 2022 annual shareholders meeting. The decisions ofMr. Combes andMr. Medeiros were not the result of any disagreement with SoFi on any matter relating to the operations, policies or practices of SoFi. In connection with the decisions ofMr. Combes andMr. Medeiros not to stand for re-election as directors of SoFi, onApril 1, 2022 ,Delaware Project 10 L.L.C., an affiliate of Softbank Group Corp., notified SoFi of its waiver of its and its affiliates' rights to designate three nominees to the Board of Directors of SoFi, including one independent nominee, under Sections 3.3(a) and 3.4(a) of that certain Shareholders' Agreement, datedMay 28, 2021 , by and among SoFi,SCH Sponsor V, LLC , and certain former shareholders ofSocial Finance, Inc. identified on the signature pages thereto (the "Shareholders' Agreement").
Director Resignation
OnApril 5, 2022 , Mr.Clay Wilkes notified the Board of Directors of SoFi of his resignation from service as a director of SoFi, effective immediately. The resignation ofMr. Wilkes was not the result of any disagreement with SoFi on any matter relating to the operations, policies or practices of SoFi. In connection withMr. Wilkes' resignation, onApril 5, 2022 ,Red Crow Capital, LLC notified SoFi of its waiver of its rights to designate two nominees to the Board of Directors of SoFi pursuant to the Shareholders' Agreement.
On
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 99.1 Press release of SoFi Technologies, Inc. , dated A pril 6 , 2022 104 Cover Page Interactive Data File (embedded within
the inline XBRL document) 1
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