Form 4: OppFi Director Theodore G. Schwartz Executes Stock Sales Under 10b5-1 Plan

Theodore G. Schwartz, a director and 10% owner of OppFi Inc., executed multiple transactions involving Class A and Class V common stock, including conversions and sales, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Theodore G. Schwartz, a director and 10% owner of OppFi Inc., filed a Form 4 detailing changes in beneficial ownership.
• The transactions involved Class A and Class V common stock.
• On March 20 and 21, 2025, Schwartz converted Class V common stock into Class A common stock and sold shares of Class A common stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 10, 2024.
• The weighted average sale prices were $9.8976 and $9.5987 on March 20 and 21, 2025, respectively.
• The transactions also involved the exchange of Common Units of Opportunity Financial, LLC for Class A common stock.
• Schwartz indirectly holds shares through OppFi Shares, LLC, LTHS Capital Group LP, and LTHS Revocable Trust.

Sentiment

Score: 5

Explanation: This is a neutral filing detailing stock transactions by a director. The use of a 10b5-1 plan suggests pre-planned sales, which doesn't inherently indicate positive or negative sentiment.

Industry Context

This filing reflects routine transactions by a company insider and is typical for publicly traded companies. The use of a 10b5-1 trading plan suggests a pre-arranged strategy to avoid accusations of insider trading.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, as mandated by the SEC.
• The use of a 10b5-1 trading plan is a common strategy among corporate insiders to sell shares while mitigating insider trading concerns, similar to practices observed at companies like Tesla (Elon Musk) and Amazon (Jeff Bezos).

Stakeholder Impact

• The stock sales by a director could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
• The transactions do not appear to directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

OppFi, Theodore G. Schwartz, Form 4, Beneficial Ownership, Class A Common Stock, Class V Common Stock, Rule 10b5-1, Trading Plan, Opportunity Financial, LTHS Capital Group LP, LTHS Revocable Trust