Form 4: OppFi Inc. Director Schwartz Executes Stock Transactions Under 10b5-1 Plan

Director Theodore G. Schwartz reports transactions involving OppFi Inc.'s Class V and Class A Common Stock, including conversions and sales under a pre-arranged 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.
• On April 17, 2025, Schwartz engaged in multiple transactions involving Class V Common Stock and Class A Common Stock.
• These transactions included the cancellation of Class V Common Stock, acquisition of Class A Common Stock through the exercise of Exchange Rights, and sales of Class A Common Stock.
• The sales of Class A Common Stock were executed under a Rule 10b5-1 trading plan adopted on December 10, 2024.
• The price per share for the Class A Common Stock sales ranged from $8.22 to $8.47, with a weighted average price of $8.339.
• Schwartz also converted Class A Common Units into Class A Common Stock.
• Following these transactions, Schwartz indirectly owns 23,669,499 shares of Class V Common Stock through OppFi Shares, LLC and a significant number of Class A Common Units through LTHS Capital Group LP and LTHS Revocable Trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions under a pre-existing plan. There are no explicit positive or negative indicators, but insider sales can sometimes be perceived negatively.

Positives

• The director's transactions are being conducted under a pre-arranged 10b5-1 trading plan, which is generally viewed as a transparent and compliant practice.

Risks

• Sales of a significant number of shares by a director could potentially exert downward pressure on the stock price, although this is mitigated by the 10b5-1 plan.

Future Outlook

The document does not contain specific forward-looking statements, but the ongoing sales under the 10b5-1 plan suggest continued transactions in the future.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The reported transactions are typical for executives and directors who often use 10b5-1 plans to manage their stock sales.
• Comparable companies in the financial technology sector also see similar filings from their insiders.
• The price range of $8.22 to $8.47 is within a normal trading range for a company like OppFi, but further analysis would be needed to determine if it is a fair valuation.

Stakeholder Impact

• Shareholders may be interested in the director's trading activity, particularly the sales of Class A Common Stock.
• The transactions could have a minor impact on the stock price, depending on market perception and trading volume.

Key Dates

Keywords

OppFi Inc., Theodore G. Schwartz, Form 4, beneficial ownership, Class V Common Stock, Class A Common Stock, 10b5-1 trading plan, Exchange Rights, OppFi Shares, LLC, LTHS Capital Group LP, LTHS Revocable Trust