Form 4: loanDepot CEO Converts 1.3M Shares to Class A Stock

loanDepot's Executive Chair and CEO, Anthony Hsieh, elected to convert 1.3 million Common Units and Class C shares into Class A Common Stock, effective October 1, 2025.

Summary

• Anthony Hsieh, loanDepot's Executive Chair, CEO, and President, elected to convert 1,300,000 Common Units of LD Holdings Group LLC and an equal number of loanDepot Class C Common Stock shares into Class A Common Stock.
• The election date for this transaction was September 19, 2025, with the exchange becoming effective on October 1, 2025.
• As a result of the conversion, 1,300,000 shares of Class A Common Stock were acquired indirectly by The JLSSAA Trust.
• The corresponding 1,300,000 shares of Class C Common Stock were cancelled for no consideration.
• The transaction involved entities over which Mr. Hsieh has voting and investment power, including Trilogy Mortgage Holdings, Inc., JLSA, LLC, and Trilogy Management Investors Six, LLC.
• Following the reported transaction, Mr. Hsieh indirectly beneficially owns 30,545,633 Class C Common Stock shares via Trilogy Mortgage Holdings, Inc., 1,300,000 Class A Common Stock shares via JLSSAA Trust, 143,677 Class A Common Stock shares directly, 3,114,521 Class C Common Stock shares via JLSSAA Trust, 4,310,497 Class C Common Stock shares via JLSA, LLC, and 66,404,880 Class C Common Stock shares via Trilogy Management Investors Six, LLC.

Sentiment

Score: 5

Explanation: The filing reports a pre-planned conversion of securities by an insider, which is a neutral event in terms of company performance or outlook. It represents a change in the form of ownership rather than a sale or acquisition for cash.

Positives

• Conversion to Class A Common Stock typically provides greater liquidity and a simpler ownership structure compared to Common Units and Class C shares.
• Consolidates a portion of the beneficial ownership into a more standard equity class.

Negatives

• No direct negatives are apparent from a conversion transaction of this nature, as it represents a restructuring of existing beneficial ownership rather than a sale or adverse event.

Risks

• The complex multi-class share structure (Class A, Class C, Common Units) and the redemption mechanism described in the footnotes could present complexities for investors in understanding the full capital structure and voting rights.

Future Outlook

This filing does not provide forward-looking statements or guidance regarding the company's financial performance or strategic direction, focusing solely on an insider's beneficial ownership change.

Industry Context

This Form 4 filing details an internal equity restructuring by a key executive and does not directly relate to broader industry trends or competitive landscape. It reflects a change in the form of ownership rather than a market-driven transaction.

Related Party Transactions

• The transaction involves Anthony Hsieh, an executive and 10% owner, converting securities held through entities (Trilogy Mortgage Holdings, Inc., JLSSAA Trust) over which he has voting and investment power. This is an internal restructuring of his beneficial ownership.

Stakeholder Impact

• Shareholders: The conversion increases the number of Class A Common Stock shares beneficially owned by Mr. Hsieh, potentially simplifying his ownership structure. It does not dilute existing Class A shareholders as the Class C shares are cancelled.
• Company: Simplifies a portion of the capital structure by converting complex units/shares into standard Class A Common Stock.

Next Steps

• The actual exchange of Common Units and Class C Common Stock for Class A Common Stock will occur effective October 1, 2025.

Key Dates

Keywords

loanDepot, LDI, Anthony Hsieh, Insider Transaction, Stock Conversion, Class A Common Stock, Class C Common Stock, Beneficial Ownership, SEC Form 4, Executive Chair, CEO