8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 29, 2022

Redfin Corporation

(Exact name of registrant as specified in its charter)

Delaware		001-38160	74-3064240
(State or other jurisdiction of incorporation or organization)		(Commission File Number)	(I.R.S. Employer Identification No.)
1099 Stewart Street	Suite 600
Seattle	WA		98101
(Address of principal executive offices)			(Zip Code)

(206)	576-8333
Registrant's telephone number, including area code

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $0.001 par value per share	RDFN	The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 28, 2022, Robert Mylod, Jr., one of our Class II directors, notified us that he will not stand for reelection at our 2022 annual meeting and will therefore be leaving our board of directors effective immediately after the annual meeting.

On March 29, 2022, we elected Brad Singer to our board of directors as a Class II director. We expect to name Mr. Singer to our audit committee following our 2022 annual meeting, assuming that he is elected by our stockholders at the meeting.

Mr. Singer will receive cash and equity compensation consistent with that received by our other non-employee directors, including, (1) a pro-rated amount of our annual non-employee director restricted stock unit award, which is currently $145,000, and (2) a pro-rated portion of our annual cash retainer for non-employee directors, which is currently $35,000. Also, as we have done for our other non-employee directors, we will agree to indemnify, to the fullest extent permitted by law, Mr. Singer for all expenses and other liabilities in connection with a proceeding that arises from his service to us.

Item 7.01 Regulation FD Disclosure.

On March 29, 2022, we issued a press release announcing Mr. Mylod's resignation from our board and Mr. Singer's election to our board of directors. A copy of this press release is furnished as exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number	Description
99.1	Press release dated March 29, 2022
104	Cover page interactive data file, submitted using inline XBRL

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Redfin Corporation
	(Registrant)
Date: March 29, 2022	/s/ Chris Nielsen
	Chris Nielsen Chief Financial Officer

EX-99.1

Redfin Appoints Brad Singer to Board of Directors

Long-time board member and former chair, Bob Mylod, will not stand for re-election at 2022 annual shareholder meeting

SEATTLE — March 29, 2022 — (NASDAQ: RDFN) — Redfin (www.redfin.com), the technology-powered real estate brokerage, today announced Brad Singer has joined its board of directors. Mr. Singer brings decades of business, finance and investment experience as a former partner and chief operating officer of ValueAct Capital. Prior to ValueAct Capital, Mr. Singer was the senior executive vice president and chief financial officer at Discovery Communications and chief financial officer & treasurer at American Tower. Before that, he was an investment banker at Goldman, Sachs & Co.

Singer joins the board as long-time board member Bob Mylod prepares to step away to focus on other professional commitments. Mr. Mylod, who has served on Redfin’s board for eight years, including as chair from 2016 to 2020, has decided not to stand for re-election at Redfin’s 2022 annual shareholder meeting in June. He will leave the board when his term is complete at the end of the meeting.

“Over the eight years that Bob has served on our board, he has become my partner and friend, advising Redfin on financings and acquisitions, and also on how we allocate capital, serve customers and treat employees,” said Redfin CEO Glenn Kelman. “For years, he and I have recognized that he would have to leave our board as his other investments become public companies. Once Redfin had recruited someone of Brad Singer's caliber, Bob decided it was finally time not to run for re-election. We share Bob’s confidence in Brad, who was our #1 candidate when we first began looking to add a director. He’s financially savvy, strategic and down-to-earth. Brad believes in our mission to redefine real estate in the consumer’s favor, and understands the frugality required to generate major profits. We're over the moon about his appointment.”

“I am excited by Redfin’s ambition to transform the consumer experience of renting, buying, and selling a home and its tremendous long-term growth potential,” said Mr. Singer. “Redfin has thoughtfully constructed, with great discipline, a broad and deep portfolio of services and the operational and technological capabilities to expand its business and create substantial value for its customers. It is a privilege to join the board.”

“Serving the stockholders of Redfin has been one of the most rewarding experiences of my professional career. While my directorship will soon come to an end, I look forward to cheering on Redfin as it continues to transform the way homes are purchased, financed and sold in the United States,” said Mr. Mylod.

“I am thrilled to welcome Brad Singer to the Redfin board. Brad is a highly respected leader who brings decades of impressive strategic and financial expertise and will add great value as we continue along our path to transform the consumer experience in real estate and realize our long term growth potential,” said David Lissy, Redfin’s chair. “Bob Mylod has been an outstanding board leader and director over the course of the past eight years. I am grateful for his wise counsel and for his unwavering commitment to advancing Redfin’s mission.”

Mr. Singer serves as Chair of the National Board for the Posse Foundation. He is also currently on the board of directors of sweetgreen, where he chairs the audit committee. He is a former director of Citizens Communications Corp., Martha Stewart Living Omnimedia, Inc., Motorola Solutions, Inc. and Rolls-Royce Holdings plc. Mr. Singer has a bachelor's degree from the University of Virginia and an MBA from Harvard Business School.

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com.

Redfin-F

Media Relations Contact

Mariam Sughayer, 206-876-1322

press@redfin.com

Investor Relations Contact

Meg Nunnally, 206-576-8610

ir@redfin.com

XML

Cover Page	Mar. 29, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Mar. 29, 2022
Entity Registrant Name	Redfin Corporation
Entity Incorporation, State or Country Code	DE
Entity File Number	001-38160
Entity Tax Identification Number	74-3064240
Entity Address, Address Line One	1099 Stewart Street
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Seattle
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98101
City Area Code	(206)
Local Phone Number	576-8333
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	RDFN
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0001382821
Amendment Flag	false