[Form 4] loanDepot, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Anthony Li Hsieh, Executive Chair and CEO of loanDepot, Inc. (LDI), reported related-party exchanges converting Class C Common Stock/Common Units into Class A Common Stock. The report shows an election to exchange 1,300,000 Common Units (and corresponding Class C shares) for 1,300,000 newly issued Class A shares, with the exchange effective on 10/01/2025. Following the transactions, the reporting person and affiliated entities hold 30,545,633 Class C shares indirectly through Trilogy Mortgage Holdings and combined indirect holdings of 74,830,898 Class A shares and common units across affiliated entities and trusts. The transactions were non-cash exchanges executed under LD Holdings’ unit exchange provisions.

Insights

Securities Analyst

TL;DR: Insider converted common units into Class A shares via intra-group exchanges; material to cap structure but not a cash liquidity event.

The filing documents related-party reorganizational exchanges where the reporting person caused Trilogy Mortgage Holdings and affiliated entities to convert Common Units/Class C shares into Class A Common Stock on a one-for-one basis. This increases the count of publicly tradable Class A shares tied to the reporting person’s economic group while cancelling corresponding Class C shares for no consideration. For investors, the action alters share-class composition and increases indirect beneficial ownership in Class A shares, but it does not represent a sale for cash or immediate market disposition. Impact on voting power and float should be analyzed in conjunction with the issuer’s capital structure provisions governing conversions.

Corporate Governance Expert

TL;DR: Transaction follows contractual redemption/exchange provisions; governance and dilution implications are procedural rather than disruptive.

The disclosures reference LD Holdings’ LLC agreement mechanisms allowing holders to require redemption of Common Units in exchange for Class A shares or cash. The reported exchanges were effectuated under those contractual rights and resulted in cancellation of corresponding Class C shares when converted. This is a governance-driven reclassification of ownership interests among affiliated entities and a trust for which the reporting person is trustee. It is important to confirm whether any director independence or related-party approval thresholds were observed, but the filing itself records an allowed, non-dispositive corporate mechanism rather than an ad hoc transfer to the public markets.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hsieh Anthony Li

(Last) (First) (Middle)

C/O LOANDEPOT, INC.

6561 IRVINE CENTER DR.

(Street)

IRVINE CA 92618

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
loanDepot, Inc. [ LDI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chair, CEO & Pres.

3. Date of Earliest Transaction (Month/Day/Year)
09/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class C Common Stock(1)	09/19/2025(2)		J(3)		1,300,000	D	$0	30,545,633	I	By Trilogy Mortgage Holdings, Inc.(4)
Class A Common Stock	09/19/2025(2)		C(3)		1,300,000	A	$0	1,300,000	I	By JLSSAA Trust(5)
Class A Common Stock								143,677	D
Class C Common Stock(1)								3,114,521	I	By JLSSAA Trust(5)
Class C Common Stock(1)								4,310,497	I	By JLSA, LLC(4)
Class C Common Stock(1)								66,404,880	I	By Trilogy Management Investors Six, LLC(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Units	(1)	09/19/2025(2)		C(3)			1,300,000	(1)	(1)	Class A Common Stock	1,300,000	$0(1)	30,545,633	I	Trilogy Mortgage Holdings, Inc.(4)
Common Units	(1)							(1)	(1)	Class A Common Stock	4,310,497		4,310,497	I	By JLSA, LLC(4)
Common Units	(1)							(1)	(1)	Class A Common Stock	66,404,880		66,404,880	I	By Trilogy Management Investors Six, LLC(4)
Common Units	(1)							(1)	(1)	Class A Common Stock	3,114,521		3,114,521	I	By JLSSAA Trust(5)

Explanation of Responses:

1. In the reorganization transactions related to Issuer's IPO, shares of Issuer's Class C Common Stock, par value $0.001 ("Class C Common Stock"), were issued to certain holders of LD Holdings Group LLC ("LD Holdings") Class A Common Units ("Common Units") equal to the number of Common Units held by such holders. Pursuant to the Fourth Amended and Restated Limited Liability Company Agreement of LD Holdings, holders of Common Units may, subject to certain exceptions, from time to time require LD Holdings to redeem all or a portion of their Common Units (together with an equal number of shares of Class C Common Stock) in exchange for, at the Issuer's election (determined solely by a majority of the Issuer's directors who are disinterested), newly issued shares of Class A Common Stock, par value $0.001 ("Class A Common Stock") of the Issuer on a one-for-one basis or a cash payment equal to an average market price of one share of Class A Common Stock for each Common Unit so redeemed.

2. The transaction date is the date the Reporting Person elected to make the exchange described in footnotes 1 and 3, which exchange will occur effective as of October 1, 2025.

3. The reporting person elected to cause Trilogy Mortgage Holdings, Inc. to exchange a portion of the Common Units held for the reporting person's benefit by such entity for an equal number of shares of Class A Common Stock. The shares of Class C Common Stock corresponding to the Common Units that were exchanged for Class A Common Stock were cancelled for no consideration.

4. The reporting person has voting and investment power over the shares of Class C Common Stock held by Trilogy Mortgage Holdings, Inc., JLSA, LLC and Trilogy Management Investors Six, LLC.

5. As trustee, Anthony Hsieh has voting and investment power over the assets of The JLSSAA Trust ("JLSSAA Trust").

Remarks:

	/s/ Greg Smith, as Attorney-in-Fact for Anthony Li Hsieh	09/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did Anthony Li Hsieh report on the Form 4 for loanDepot (LDI)?

The Form 4 reports related-party exchanges converting Common Units and corresponding Class C shares into 1,300,000 newly issued Class A Common Stock shares for the reporting person’s benefit.

How many Class A shares were received in the exchange?

1,300,000 Class A Common Stock shares were exchanged for an equal number of Common Units.

Will the transaction result in cash proceeds to the insider?

No; the reported transaction was a non-cash exchange. The corresponding Class C shares were cancelled for no consideration.

What aggregate holdings are reported after the transaction?

The filing indicates indirect holdings including 30,545,633 Class C shares and combined indirect holdings of 74,830,898 Class A/common units across affiliated entities and trusts.

When is the exchange effective?

The exchange is reported to be effective as of 10/01/2025.