Form 4: LoanDepot Executive Joseph Grassi III Reports Stock Transactions

Joseph Grassi III, Chief Risk Officer of loanDepot, Inc., reports the acquisition and disposal of Class A Common Stock and Performance Share Units.

Summary

• Joseph Grassi III, the Chief Risk Officer of loanDepot, Inc. (LDI), filed a Form 4 detailing changes in beneficial ownership.
• On November 6, 2024, Grassi acquired 46,099 shares of Class A Common Stock.
• On the same day, Grassi disposed of 13,876 shares of Class A Common Stock at a price of $2.57.
• Following these transactions, Grassi directly owns 75,909 shares of Class A Common Stock.
• Grassi also reports owning 92,198 Performance Share Units (PSUs).
• These PSUs were granted on April 15, 2024, and represent a contingent right to receive one share of Class A Common Stock upon LDI achieving one fiscal quarter of positive adjusted net income.
• The remaining PSUs are scheduled to vest ratably on April 15, 2026, and April 15, 2027.

Sentiment

Score: 5

Explanation: This is a neutral report of stock transactions. The sentiment is neither positive nor negative as it simply reflects the executive's trading activity.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting of PSUs is contingent on loanDepot achieving positive adjusted net income.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Key Dates