Form 4: OppFi Inc. Executive Todd G. Schwartz Reports Class V Common Stock Transactions

OppFi Inc. Chief Executive Officer Todd G. Schwartz reported the disposal of Class V Common Stock in connection with the exchange of Class A common units of Opportunity Financial, LLC.

Summary

• Todd G. Schwartz, CEO of OppFi Inc., reported the disposal of 100,000 shares of Class V Common Stock on November 8, 2024, and 132,820 shares on November 11, 2024.
• These disposals were related to the exchange of Class A common units of Opportunity Financial, LLC for Class A common stock of OppFi Inc.
• The shares were surrendered and cancelled by the issuer as part of the exchange process.
• The Class V Common Stock represents voting, non-economic interests in OppFi Inc.
• The shares are held indirectly through OppFi Shares, LLC, which is wholly owned by TGS Revocable Trust, of which Todd G. Schwartz is the sole trustee.
• Following these transactions, OppFi Shares, LLC holds 64,763,295 shares of Class V Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock transactions by an executive, which is neither positive nor negative in itself.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive and is typical for publicly traded companies. It reflects internal restructuring related to the exchange of units in a subsidiary for shares in the parent company.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, and the transactions reported are consistent with typical executive stock movements.
• The exchange of subsidiary units for parent company stock is a common corporate restructuring activity, and the reporting of these transactions is in line with SEC regulations.
• Similar filings can be seen across various companies when executives exercise options, sell shares, or engage in similar transactions.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they involve Class V Common Stock, which has voting rights but no economic value.
• The transactions are part of internal restructuring and do not directly affect employees, customers, or suppliers.

Key Dates

Keywords

OppFi Inc., Class V Common Stock, Todd G. Schwartz, Opportunity Financial LLC, SEC Form 4, Share Disposal, Executive Transaction, OppFi Shares LLC