Form 4: Anthony Hsieh Sells 200,675 LDI Shares Under 10b5-1 Plan
Rhea-AI Filing Summary
Anthony Li Hsieh, Executive Chair, CEO and President of loanDepot, Inc. (LDI), reported sales of Class A common stock executed on 08/15/2025 under a Rule 10b5-1 trading plan adopted on November 20, 2024. The Form 4 shows dispositions of 81,604 shares and 119,071 shares (total 200,675 shares) at a weighted average price of $2.0117 with transaction prices ranging from $2.00 to $2.05. After these transactions, Mr. Hsieh, as trustee of the JLSSAA Trust, is reported to beneficially own 8,782,465 shares indirectly and retains voting and investment power over the trust assets.
Positive
- Sales executed pursuant to a Rule 10b5-1 plan, indicating pre-authorized trading and compliance with insider trading rules
- Clear disclosure of weighted average price and price range ($2.00–$2.05)
- Significant retained indirect ownership of 8,782,465 shares through the JLSSAA Trust, with voting and investment power retained
Negative
- Insider dispositions totaling 200,675 shares on 08/15/2025 reduce the reporting person’s holdings
- Sales at low per-share prices (weighted average $2.0117) may be viewed negatively by some investors
Insights
TL;DR: Insider sold 200,675 LDI shares under a pre-established 10b5-1 plan; substantial indirect ownership remains.
The Form 4 discloses routine dispositions executed pursuant to a Rule 10b5-1 plan, indicating pre-authorized trades rather than opportunistic timing around public disclosures. The weighted average sale price was $2.0117, with transaction prices between $2.00 and $2.05. While the sales reduce beneficial holdings by the reported amount, the filing shows continued significant indirect ownership of 8,782,465 shares via the JLSSAA Trust, and the reporting person retains voting and investment power as trustee. For market impact, these are insider sales but appear procedural under the trading plan.
TL;DR: Disclosure follows compliance best practices; trades were executed under a documented plan and properly reported.
The filing clearly states the trades were effected under a 10b5-1 plan adopted on November 20, 2024 and provides a weighted average price range for the multiple transactions. The Form 4 includes the reporting person’s roles (Executive Chair, CEO & President, Director, 10% owner) and notes trustee authority over the JLSSAA Trust, which clarifies indirect ownership and control. Signature by an attorney-in-fact is included, fulfilling execution requirements. The disclosure aligns with SEC requirements for Section 16 reporting.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 81,604 | $2.0117 | $164K |
| 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 $2.00 to $2.05. 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.
