Form 4: loanDepot Executive Chair Sells Over 460K Shares

Anthony Hsieh, loanDepot's Executive Chair and CEO, sold over 460,000 shares of Class A Common Stock through a pre-arranged trading plan.

Summary

• Anthony Li Hsieh, Executive Chair, CEO, President, Director, and 10% Owner of loanDepot, Inc. (LDI), reported transactions involving the company's Class A Common Stock.
• On August 28, 2025, Hsieh sold 250,000 shares of Class A Common Stock at a weighted average price of $2.031 per share.
• On August 29, 2025, Hsieh sold an additional 211,079 shares of Class A Common Stock at a weighted average price of $2.096 per share.
• Both sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Hsieh on November 20, 2024.
• On August 29, 2025, Hsieh also acquired 24,606 shares of Class A Common Stock through the conversion of Restricted Stock Units (RSUs).
• Following these transactions, Hsieh indirectly beneficially owns 9,139,328 shares of Class A Common Stock through the JLSSAA Trust, where he has voting and investment power.
• Hsieh directly beneficially owns 143,677 shares of Class A Common Stock and 73,819 Restricted Stock Units (RSUs).

Sentiment

Score: 5

Explanation: The transactions represent planned insider selling via a 10b5-1 plan, which is a neutral event, though the volume of sales could be viewed with slight caution by some investors.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, adopted on November 20, 2024, indicating a planned liquidity event rather than a reactive sale based on new information.

Negatives

• The Executive Chair, CEO, and President sold a significant number of shares (461,079 shares), which could be perceived negatively by the market, even if pre-planned.

Future Outlook

Remaining Restricted Stock Units (RSUs) held by Anthony Hsieh are scheduled to vest ratably on November 28, 2025, February 27, 2026, and May 29, 2026.

Management Comments

• Transactions were 'Effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 20, 2024.'

Industry Context

Form 4 filings are standard disclosures for insider transactions. While significant insider selling, even if planned, can sometimes draw market attention, the use of a Rule 10b5-1 plan suggests a pre-determined liquidity strategy rather than a reaction to immediate company-specific news. Investors typically monitor such filings for insights into management's confidence and potential future stock movements.

Stakeholder Impact

• Shareholders: May interpret significant insider selling as a signal, potentially impacting sentiment, despite the pre-planned nature of the sales.

Next Steps

• Monitor the vesting of the remaining Restricted Stock Units on November 28, 2025, February 27, 2026, and May 29, 2026.

Key Dates

Recommendation

While the insider sales are substantial, they were conducted under a pre-arranged 10b5-1 plan, mitigating the immediate negative signal typically associated with unplanned insider selling. The executive retains significant beneficial ownership. Without further financial or operational updates, a 'hold' recommendation is appropriate, advising investors to monitor future filings and company performance.

Keywords

loanDepot, LDI, Anthony Hsieh, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Executive Chair, CEO, Restricted Stock Units