Form 4: loanDepot's Chief Legal Officer Reports Stock Transactions
SEC Form 4 Filing
Gregory Smallwood, Chief Legal Officer of loanDepot, Inc., reports the vesting and subsequent sale of restricted stock units.
Summary
- On September 16, 2024, Gregory Smallwood, the Chief Legal Officer of loanDepot, Inc., reported transactions involving Class A Common Stock.
- 62,500 restricted stock units (RSUs) vested and were converted into Class A Common Stock.
- Following the vesting, 15,219 shares were sold at a price of $2.9 per share to cover tax obligations.
- After these transactions, Smallwood directly owns 94,562 shares of Class A Common Stock and 125,000 RSUs.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Future Outlook
The remaining RSUs held by Gregory Smallwood are scheduled to vest ratably on September 15, 2025, and September 15, 2026.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, as required by the SEC. It provides transparency to investors regarding the trading activities of key personnel.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 08/08/2024 | Date of Power of Attorney execution. |
| 09/16/2024 | Date of the reported transactions (vesting of RSUs and sale of shares). |
| 09/18/2024 | Date of signature on the Form 4 filing. |
| 09/15/2025 | First vesting date for remaining RSUs. |
| 09/15/2026 | Second vesting date for remaining RSUs. |
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