LDI Form 4: Anthony Hsieh disposes of 1,350,000 Class A shares via 10b5-1 plan
Rhea-AI Filing Summary
Anthony Li Hsieh, Executive Chair, CEO & President of loanDepot, Inc. (LDI), reported the sale of 1,350,000 shares of Class A common stock on 09/15/2025. The sales were effected under a Rule 10b5-1 trading plan adopted on November 20, 2024, and the reported weighted-average price was $4.6128, with individual trades ranging from $4.315 to $4.785. After the reported transactions, the filing shows beneficial ownership of 143,677 shares held indirectly through The JLSSAA Trust, for which Mr. Hsieh is trustee and has voting and investment power. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Hsieh.
Positive
- Transaction executed under a documented Rule 10b5-1 plan, indicating pre-arranged compliance with insider trading rules
- Full disclosure of price range ($4.315 to $4.785) and weighted-average price ($4.6128) for the sold shares
Negative
- Large insider sale of 1,350,000 Class A shares, which materially reduces the reporting person’s direct holdings
- Post-transaction beneficial ownership decreased to 143,677 shares (indirect), indicating a significant reduction in reported holdings
Insights
TL;DR: Insider sold 1.35M LDI shares under a pre-established 10b5-1 plan; remaining indirect holdings are 143,677 shares.
The transaction is a clear insider disposition carried out under a documented Rule 10b5-1 plan, which reduces the reporting person’s economic exposure by 1,350,000 shares at a weighted-average price of $4.6128. The filing explicitly states the price range ($4.315–$4.785) and the plan adoption date (November 20, 2024). For investors, this is a factual disclosure of insider sales rather than forward-looking guidance; its materiality depends on LDI’s outstanding share count and market context, which are not provided in this Form 4.
TL;DR: Sale executed under a 10b5-1 plan demonstrates procedural compliance; trustee role retains indirect control of remaining shares.
The Form 4 documents compliance with Rule 10b5-1 by identifying the plan adoption date and disclosing aggregate sale details. It also clarifies that Mr. Hsieh, as trustee of The JLSSAA Trust, retains voting and investment power over 143,677 indirectly held shares. The filing is procedurally complete and signed by an attorney-in-fact, meeting SEC reporting requirements; it does not disclose motives or broader governance changes.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,350,000 | $4.6128 | $6.23M |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 20, 2024. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $4.315 to $4.785. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, specific trade amounts and pricing within the ranges set forth in this footnote of this Form 4 at which the respective transactions were affected. As trustee, Anthony Hsieh has voting and investment power over the assets of The JLSSAA Trust ("JLSSAA Trust").
