Garg Group removes Better Home Finance directors, appoints new board members

Vishal Garg and the Garg Group delivered written consents on September 30, 2026, removing five directors from the Better Home & Finance Holding Company (BETR) board without cause. The consent solicitation was supported by stockholders representing a majority of the voting power of the company's common stock outstanding as of the August 21, 2026 record date. The immediate removal affected Daniel Lewis, Arnaud Massenet, Bhaskar Menon, Prabhu Narasimhan, and Harit Talwar.

Following the removal, Hugh Frater notified the company on October 1, 2026, that he would resign from the board effective upon the removal of the other directors. Frater, who served on the Audit Committee and Special Committee, cited the outcome of the consent solicitation as the reason for his departure. He had previously stated on August 27, 2026, that he intended to resign if Garg assumed an executive role with the company.

On October 5, 2026, Garg, acting as the sole remaining director, appointed Bing Gordon, Steven Sarracino, Paula Tuffin, and Nicholas Calamari to fill the vacancies. Tuffin serves as the company's General Counsel, Chief Compliance Officer, and Secretary, while Calamari is a company employee. Neither Tuffin nor Calamari will receive additional compensation for their board service. Gordon and Sarracino are expected to receive compensation in accordance with the company's Director Compensation Policy and will enter into standard form indemnification agreements. No committee appointments have been made for the new directors as of the filing date.

The amendment to the Form 8-K filed on October 9, 2026, supplements previous disclosures regarding transactions involving the newly appointed directors. Bing Gordon maintains a consulting agreement with the company dated December 8, 2025, for advisory services on product strategy. Under this arrangement, the company granted Gordon 20,000 restricted stock units on February 11, 2026, with an aggregate grant date fair value of $582,200. These units vest quarterly over four years. No other transactions requiring disclosure under Item 404(a) of Regulation S-K were identified for Tuffin, Calamari, or Sarracino.

The board also removed Daniel Lewis as Interim Chief Executive Officer on October 5, 2026, effective immediately. The company has commenced a process to identify and appoint a successor Interim Chief Executive Officer.