Form 4: OppFi Inc. Director Todd G. Schwartz Reports Changes in Beneficial Ownership

Todd G. Schwartz, a director, 10% owner, and CEO of OppFi Inc., reported changes in his beneficial ownership of Class V Common Stock due to the exchange of Class A common units by other members of Opportunity Financial, LLC.

Summary

• On May 13, 2024, Todd G. Schwartz, a director, 10% owner, and the Chief Executive Officer of OppFi Inc., filed a Form 4 to report changes in beneficial ownership.
• The changes involve Class V Common Stock, which represents voting, non-economic interests in OppFi Inc.
• Schwartz surrendered and cancelled 77,538 shares of Class V Common Stock at a price of $0.
• This was in connection with the exchange of Class A common units of Opportunity Financial, LLC by members other than Schwartz for Class A common stock of OppFi Inc.
• Following the transaction, Schwartz directly owns 0 shares and indirectly owns 91,294,566 shares through OppFi Shares, LLC.
• OppFi Shares, LLC is wholly owned by TGS Revocable Trust, of which Schwartz is the sole trustee.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, and the transaction itself doesn't inherently indicate positive or negative sentiment. It's a procedural report of changes in stock ownership.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership, which is common for directors and officers of publicly traded companies. It reflects internal corporate actions related to unit exchanges within Opportunity Financial, LLC, a subsidiary of OppFi Inc.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the change in the number of Class V shares outstanding, but these shares have non-economic interests.

Key Dates