SCHEDULE 13D/A 0001104659-25-034605 0001532943 XXXXXXXX LIVE 1 Common Stock 07/02/2025 false 0001806201 68373J104 Open Lending Corp

1501 S. Mopac Expressway Suite #450 Austin TX 78746

Ryan L. Vardeman (214) 871-2700 8333 Douglas Ave Suite 775 Dallas TX 75225 Kellie Bobo (512) 867-8411 98 San Jacinto Blvd Suite 1500 Austin TX 78701 0001532943 N Palogic Value Management, L.P. a AF N DE 0.00 4172500.00 0.00 4172500.00 4172500.00 N 3.5 IA HC PN The figure in Item 13 is based upon 119,786,421 shares of common stock, par value $0.01 per share ("Common Stock") of Open Lending Corp (the "Issuer") outstanding as of May 5, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed by the Issuer with the U.S. Securities and Exchange Commission (the "SEC") for the quarterly period ended March 31, 2025, that was filed on May 8, 2025. 0001387846 N Palogic Value Fund, L.P. a WC N DE 0.00 4172500.00 0.00 4172500.00 4172500.00 N 3.5 PN The figure in Item 13 is based upon 119,786,421 shares of Common Stock outstanding as of May 5, 2025, as disclosed in the Issuer's Annual Report on Form 10-Q filed by the Issuer with the SEC for the quarterly period ended March 31, 2025, that was filed on May 8, 2025. 0001494018 N Palogic Capital Management, LLC a AF N DE 0.00 4172500.00 0.00 4172500.00 4172500.00 N 3.5 HC OO The figure in Item 13 is based upon 119,786,421 shares of Common Stock outstanding as of May 5, 2025, as disclosed in the Issuer's Annual Report on Form 10-Q filed by the Issuer with the SEC for the quarterly period ended March 31, 2025, that was filed on May 8, 2025. 0001574629 N Ryan L. Vardeman a AF N X1 0.00 4172500.00 0.00 4172500.00 4172500.00 N 3.5 IN HC The figure in Item 13 is based upon 119,786,421 shares of Common Stock outstanding as of May 5, 2025, as disclosed in the Issuer's Annual Report on Form 10-Q filed by the Issuer with the SEC for the quarterly period ended March 31, 2025, that was filed on May 8, 2025. Common Stock Open Lending Corp 1501 S. Mopac Expressway Suite #450 Austin TX 78746 The aggregate number and percentage of the class of securities identified pursuant to Item 1 beneficially owned by each Reporting Person is stated in Items 11 and 13 on the cover page(s) hereto. Each Reporting Person declares that neither the filing of this Schedule 13D nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this Schedule 13D. Each Reporting Person may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for the purposes of Section 13(d) or 13(g) of the Act. Each Reporting Person declares that neither the filing of this Schedule 13D nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any syndicate or group with respect to the Issuer or any securities of the Issuer. Number of shares as to which each Reporting Person has: (i) sole power to vote or to direct the vote: See Item 7 on the cover page(s) hereto. (ii) shared power to vote or to direct the vote: See Item 8 on the cover page(s) hereto. (iii) sole power to dispose or to direct the disposition of: See Item 9 on the cover page(s) hereto. (iv) shared power to dispose or to direct the disposition of: See Item 10 on the cover page(s) hereto. Palogic Value Fund is the record and direct beneficial owner of the securities covered by this Schedule 13D. Palogic Value Fund has the power to vote or to direct the vote of (and the power to dispose or direct the disposition of) the shares of Common Stock owned by it. As the general partner of Palogic Value Fund, Palogic Value Management may be deemed to have the shared power to vote or to direct the vote of (and the shared power to dispose or direct the disposition of) any shares of Common Stock owned by Palogic Value Fund. Palogic Value Management does not own any shares of Common Stock directly and disclaims beneficial ownership of any shares of Common Stock owned by Palogic Value Fund. As the general partner of Palogic Value Management, Palogic Capital Management may be deemed to have the shared power to vote or to direct the vote of (and the shared power to dispose or direct the disposition of) any shares of Common Stock beneficially owned by Palogic Value Management. Palogic Capital Management does not own any shares of Common Stock directly and disclaims beneficial ownership of any shares of Common Stock beneficially owned by Palogic Value Management. As the sole member of Palogic Capital Management, Mr. Vardeman may be deemed to have the shared power to vote or to direct the vote of (and the shared power to dispose or direct the disposition of) any shares of Common Stock beneficially owned by Palogic Capital Management. Mr. Vardeman does not own any shares of Common Stock directly and disclaims beneficial ownership of any shares of Common Stock beneficially owned by Palogic Capital Management. As of the date hereof, no Reporting Person owns any shares of Common Stock of the Issuer other than as set forth in this Item 5. Other than as set forth on Annex A hereto, there have been no transactions in the class of securities reported on that were effected by the Reporting Persons during the past sixty days or since the most recent filing of Schedule 13D, whichever is less. Not applicable. June 18, 2025 Palogic Value Management, L.P. Palogic Capital Management, LLC 07/07/2025 /s/ Ryan L. Vardeman 07/07/2025 Palogic Value Fund, L.P. Palogic Value Management, L.P. 07/07/2025 Palogic Capital Management, LLC 07/07/2025 /s/ Ryan L. Vardeman 07/07/2025 Palogic Capital Management, LLC /s/ Ryan L. Vardeman 07/07/2025 Ryan L. Vardeman /s/ Ryan L. Vardeman 07/07/2025