Form 4: loanDepot's Chief Risk Officer, Joseph J. Grassi III, Reports Stock Transactions
SEC Form 4 Filing
Joseph J. Grassi III, Chief Risk Officer of loanDepot, Inc., reports the vesting and subsequent disposal of restricted stock units (RSUs) to cover tax obligations.
Summary
- On September 12, 2024, Joseph J. Grassi III, Chief Risk Officer of loanDepot, Inc., reported transactions involving Class A Common Stock.
- 31,250 Restricted Stock Units (RSUs) vested and were converted into Class A Common Stock.
- Grassi disposed of 9,407 shares of Class A Common Stock at a price of $2.28 to satisfy tax obligations related to the vesting of the RSUs.
- Following these transactions, Grassi directly owns 43,686 shares of Class A Common Stock and 62,500 Restricted Stock Units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions by a company executive. It doesn't inherently indicate positive or negative sentiment, as it reflects standard compensation practices and tax obligations.
Future Outlook
The remaining RSUs are scheduled to vest ratably on September 12, 2025, and September 12, 2026.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives. This filing indicates the vesting of previously granted equity compensation and the subsequent sale of shares to cover tax obligations, a common practice among corporate executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the vesting of previously granted equity compensation and the subsequent sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/08/2024 | Date of Power of Attorney execution. |
| 09/12/2024 | Date of the reported stock transactions (vesting of RSUs and disposal of shares). |
| 09/12/2025 | First vesting date for remaining RSUs. |
| 09/12/2026 | Second vesting date for remaining RSUs. |
| 09/16/2024 | Date of Form 4 filing. |
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