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 April 15 and 16, 2025, Schwartz converted Class V Common Stock into Class A Common Stock through the exercise of Exchange Rights.
• Simultaneously, Schwartz sold shares of Class A Common Stock at weighted average prices of $8.451 and $8.2872, respectively.
• These sales were conducted under a Rule 10b5-1 trading plan adopted on December 10, 2024.
• The transactions also involved the cancellation of Class V Common Stock held by OppFi Shares, LLC, over which Schwartz has indirect control.
• The shares were sold in multiple transactions with prices ranging from $8.25 to $8.53 on April 15, 2025.
• The shares were sold in multiple transactions with prices ranging from $8.19 to $8.42 on April 16, 2025.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather reports factual information about insider trading activity.

Industry Context

This filing reflects insider trading activity, which is a common occurrence in publicly traded companies. The use of a 10b5-1 trading plan is a legal way for insiders to sell shares while avoiding accusations of trading on non-public information.

Comparison to Industry Standards

• Comparing OppFi to similar fintech companies like LendingClub or Upstart, insider selling is a common practice.
• However, the scale and frequency of such transactions can vary significantly based on company performance and individual financial planning.
• It's important to monitor these transactions in relation to overall market trends and company-specific news.

Stakeholder Impact

• Shareholders may react to insider selling, depending on the context and volume of shares sold.
• Large-scale or frequent selling could be interpreted negatively, while planned sales under a 10b5-1 plan are generally viewed as less concerning.

Key Dates

Keywords

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