loanDepot director swaps 147K units for Class A
loanDepot director Dawn G. Lepore converted LLC units and paired Class B shares into Class A stock, shifting holdings from an indirect LLC interest to direct Class A ownership.
Rhea-AI Filing Summary
loanDepot, Inc. (LDI) director Dawn G. Lepore reported an exchange of LLC interests into Class A common stock. On September 8, 2026, she caused Trilogy Management Investors Six, LLC to convert 147,130 Common Units and the corresponding 147,130 shares of Class B Common Stock into 147,130 shares of Class A Common Stock, effective as of October 1, 2026. The Class B shares corresponding to the exchanged Common Units were cancelled for no consideration, and her indirect interest in those Trilogy Six-held securities was eliminated; she disclaims beneficial ownership of any remaining Trilogy Six holdings. After the conversion, she holds 486,020 Class A shares directly, including 79,449 unvested restricted stock units that vest in installments through May 28, 2027. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
147,130 shares exercised/converted
Exercise
3 txns
Insider
LEPORE DAWN G
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Common Units F1, F6, F2, F3, F4 | 147,130 | $0.00 | $0.00 |
| Other | Class B Common Stock F1, F2, F3, F4 | 147,130 | $0.00 | $0.00 |
| Conversion | Class A Common Stock F2, F3, F5 | 147,130 | $0.00 | $0.00 |
Holdings After Transaction:
Common Units — 0 contracts (Indirect, Trilogy Management Investors Six, LLC);
Class B Common Stock — 0 shares (Indirect, Trilogy Management Investors Six, LLC);
Class A Common Stock — 486,020 shares (Direct)
Footnotes (6)
- F1. 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. On February 11, 2026, all outstanding Class C Common stock automatically converted in Class B Common Stock, par value $0.001 ("Class B Common Stock"). Shares of Class B Common Stock may be converted, together with the corresponding Common Units, for shares of the Issuer's Class A Common Stock, par value $0.001 ("Class A Common Stock") as described in footnote 5.
- F2. 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, 2026.
- F3. The Reporting Person elected to cause Trilogy Management Investors Six, LLC ("Trilogy Six") to exchange a portion of the Common Units beneficially owned by the Reporting Person for an equal number of shares of Class A Common Stock. The shares of Class B Common Stock corresponding to the Common Units that were exchanged were cancelled for no consideration.
- F4. The Reporting Person has an indirect interest in a portion of the securities of the Class B Common Stock and the Common Units held by Trilogy Six. Following the conversion, the Reporting Person will no longer have any interest in these securities and disclaims all beneficial ownership of all remaining securities held by Trilogy Six.
- F5. Includes 79,449 unvested restricted stock units, which vest ratably on November 30, 2026, February 26, 2027, and May 28, 2027.
- F6. 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 B 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 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.
Key Figures
Common Units converted: 147,130 units
Class B Common Stock cancelled: 147,130 shares
Class A Common Stock acquired: 147,130 shares
+3 more
6 metrics
Common Units converted
147,130 units
Common Units exchanged for Class A Common Stock effective October 1, 2026
Class B Common Stock cancelled
147,130 shares
Corresponding Class B shares cancelled for no consideration in the exchange
Class A Common Stock acquired
147,130 shares
Received upon conversion of Common Units and paired Class B shares
Direct Class A holdings after transaction
486,020 shares
Total Class A Common Stock directly owned after the exchange
Unvested restricted stock units
79,449 RSUs
Included in post-transaction holdings; vest ratably through May 28, 2027
Exchange effective date
October 1, 2026
Date on which the elected exchange will occur
Key Terms
Class B Common Stock, restricted stock units, Fourth Amended and Restated Limited Liability Company Agreement, beneficial ownership, +1 more
5 terms
Class B Common Stock financial
"Shares of Class B Common Stock may be converted, together with the corresponding Common Units"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
restricted stock units financial
"Includes 79,449 unvested restricted stock units, which vest ratably"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Fourth Amended and Restated Limited Liability Company Agreement regulatory
"Pursuant to the Fourth Amended and Restated Limited Liability Company Agreement of LD Holdings"
beneficial ownership financial
"The Reporting Person has an indirect interest... and disclaims all beneficial ownership"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
redeem financial
"holders of Common Units may, subject to certain exceptions, from time to time require LD Holdings to redeem"
To redeem means to exchange a financial instrument—like a bond, preferred share, voucher, or convertible security—for cash or its agreed value when the issuer or holder triggers repayment. Investors care because redemption changes who holds the investment, when they get paid, and how much cash a company must use, affecting yield, ownership stakes and short‑term liquidity much like cashing a coupon or getting a loan repaid.
FAQ
What did loanDepot (LDI) director Dawn G. Lepore report in this Form 4?
She elected to exchange 147,130 Common Units and the corresponding 147,130 Class B Common shares held through Trilogy Management Investors Six, LLC for 147,130 Class A Common shares, effective as of October 1, 2026, changing her interest from indirect to direct ownership.
Does Dawn G. Lepore still have an interest in Trilogy Management Investors Six, LLC’s loanDepot securities?
The filing states that, following the conversion, Dawn G. Lepore will no longer have any interest in the relevant Trilogy Management Investors Six, LLC securities and disclaims beneficial ownership of all remaining securities held by that entity.
AI-generated analysis. How Rhea-AI works. Not financial advice.
