Insider Sale: 1.32M loanDepot (LDI) Shares Sold on Sept 15-16, 2025

Rhea-AI Filing Summary

PCP Managers GP, LLC and affiliated reporting persons disclosed sale transactions in loanDepot, Inc. (LDI) Class A common stock on September 15 and 16, 2025. The Form 4 shows 717,287 shares sold on 09/15/2025 at a weighted average price of $4.5296 and 604,979 shares sold on 09/16/2025 at a weighted average price of $4.4896, for a total of 1,322,266 shares disposed. After the 09/15 sale the filing reports 3,598,856 shares beneficially owned and, after the 09/16 sale, 2,993,877 shares beneficially owned. The reporting persons are identified as directors and 10% owners or affiliates; footnotes state sales were made by PCap Partners III, LLC, PCP Partners IV, L.P., and PCP Managers, L.P., and include customary disclaimers of beneficial ownership.

Positive

• Clear, timely disclosure of share sales with weighted-average prices and post-transaction ownership figures
• Footnotes identify selling entities (PCap Partners III, LLC; PCP Partners IV, L.P.; PCP Managers, L.P.) and provide price ranges

Negative

• Large aggregate dispositions of 1,322,266 Class A shares over two days reduced reported beneficial ownership
• Filing lacks context on reasons for sales (no plan, intent, or use of proceeds disclosed)

Insights

Financial Analyst

TL;DR: Significant insider dispositions totaling 1,322,266 shares occurred over two days, modestly reducing reported beneficial ownership.

The Form 4 documents two sizable open-market sales across September 15-16, 2025, executed at weighted-average prices of $4.5296 and $4.4896. Aggregate dispositions reduce reported beneficial holdings from 3,598,856 to 2,993,877 shares according to the filing. These transactions were executed by affiliated private funds and the filing includes typical beneficial-ownership disclaimers. From a capital-structure view, the filing provides clear, itemized disclosure of volumes and weighted-average prices but does not include pre-sale holdings or motivations.

Corporate Governance Expert

TL;DR: Reporting shows compliant disclosure by directors/affiliates of material sales, with standard attribution and disclaimers.

The Form 4 names PCP Managers GP, LLC, PCP Managers, L.P., PCap Partners III, LLC, and PCP Partners IV, L.P., and lists Messrs. Golson and Dodson as directors. The filing includes explanatory footnotes describing which entity sold which tranches and provides weighted-average price ranges. Signatures by an attorney-in-fact are present. The document adheres to Section 16 reporting format and supplies the customary clarifications on indirect ownership; it contains no statements about plans, intent, or any change in control.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

PCP MANAGERS GP, LLC

(Last) (First) (Middle)

FOUR EMBARCADERO CENTER

SUITE 3610

(Street)

SAN FRANCISCO CA 94111

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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

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

	Form filed by One Reporting Person
X	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 A Common Stock	09/15/2025		S		717,287(1)	D	$4.5296(2)	3,598,856	I	See Footnotes(3)(4)
Class A Common Stock	09/16/2025		S		604,979(5)	D	$4.4896(6)	2,993,877	I	See Footnotes(3)(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

1. Name and Address of Reporting Person^*

PCP MANAGERS GP, LLC

(Last) (First) (Middle)

FOUR EMBARCADERO CENTER

SUITE 3610

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Dodson Andrew C

(Last) (First) (Middle)

FOUR EMBARCADERO CENTER

SUITE 3610

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Golson Brian P.

(Last) (First) (Middle)

FOUR EMBARCADERO CENTER

SUITE 3610

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

PCP MANAGERS, L.P.

(Last) (First) (Middle)

FOUR EMBARCADERO CENTER

SUITE 3610

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Includes (i) 661,264 shares of Class A Common Stock sold by PCap Partners III, LLC, and (ii) 56,023 shares of Class A Common Stock sold by PCP Partners IV, LP.

2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $4.50 to $4.80. 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.

3. PCP Managers GP, LLC is the general partner of PCP Managers, L.P., a registered investment adviser under the Investment Advisers Act of 1940, as amended, and an affiliate of Parthenon Capital Partners ("Parthenon Capital"). PCP Managers, L.P. is the managing member of PCap Partners III, LLC, and the general partner of PCP Partners IV, L.P. Messrs. Golson and Dodson serve as directors of the issuer. Mr. Golson is the Co-CEO and Managing Partner at Parthenon Capital and Mr. Dodson is a Managing Partner at Parthenon Capital.

4. PCP Managers GP, LLC and certain of the reporting persons and their affiliates may be deemed to beneficially own the securities owned of record by the selling entities and PCP Managers, L.P. Each of the reporting persons and their affiliates expressly disclaims beneficial ownership of the equity securities reported herein, except to the extent of their respective pecuniary interests therein, and the filing of this Form 4 shall not be construed as an admission that any such Reporting Person is the beneficial owner of any equity securities covered by this Form 4.

5. Includes (i) 260,632 shares of Class A Common Stock sold by PCap Partners III, LLC, (ii) 22,081 shares of Class A Common Stock sold by PCP Partners IV, LP, and (iii) 322,266 shares of Class A Common Stock sold by PCP Managers, LP.

6. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $4.40 to $4.58. 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.

Remarks:

	/s/ Greg Smith, as Attorney-in-Fact for Brian P. Golson	09/15/2025
	/s/ Greg Smith, as Attorney-in-Fact for Andrew C. Dodson	09/15/2025
	/s/ Greg Smith, as Attorney-in-Fact for Joseph Taveira, Chief Financial Officer of PCP Managers GP, LLC and PCP Managers, L.P.	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many loanDepot (LDI) shares were sold according to this Form 4?

The filing reports total dispositions of 1,322,266 Class A shares sold across 09/15/2025 and 09/16/2025.

At what prices were the LDI shares sold in these transactions?

The 09/15/2025 sales had a weighted-average price of $4.5296 and the 09/16/2025 sales had a weighted-average price of $4.4896, with price ranges noted in the footnotes.

Who are the reporting persons on this Form 4 for LDI?

The filing lists PCP Managers GP, LLC, PCP Managers, L.P., and individuals including Brian P. Golson and Andrew C. Dodson, identified as directors and 10% owners or affiliates.

What were the reported beneficial ownership amounts after the transactions?

After the 09/15 sale the filing shows 3,598,856 shares beneficially owned, and after the 09/16 sale it shows 2,993,877 shares beneficially owned.

Which entities sold shares according to the footnotes?

Footnotes state sales were by PCap Partners III, LLC, PCP Partners IV, L.P., and PCP Managers, L.P. with specified share allocations per trade.