loanDepot CRO exercises RSUs and PSUs
loanDepot, Inc. Chief Risk Officer Joseph J. Grassi III exercised equity awards into Class A Common Stock and covered related taxes in shares.
Rhea-AI Filing Summary
loanDepot, Inc. Chief Risk Officer Joseph J. Grassi III exercised equity awards into Class A Common Stock and covered related taxes in shares. On April 15, 2026, he exercised derivative awards tied to 92,198 shares, consisting of restricted stock units and performance share units converting at $0.00 per share.
To satisfy tax obligations, 27,752 Class A shares were withheld at $1.55 per share, a non-market disposition. After these transactions, he directly held 274,105 Class A shares. Footnotes state remaining RSUs and PSUs are scheduled to vest on April 15, 2027, with PSUs tied to achieving one fiscal quarter of positive adjusted net income.
Positive
- None.
Negative
- None.
Insider Trade Summary
92,198 shares exercised/converted
Exercise
6 txns
Insider
Grassi Joseph J III
Role
Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 46,099 | $0.00 | $0.00 |
| Exercise | Performance Share Units | 46,099 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 46,099 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 13,876 | $1.55 | $22K |
| Exercise | Class A Common Stock | 46,099 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 13,876 | $1.55 | $22K |
Holdings After Transaction:
Restricted Stock Units — 46,099 contracts (Direct);
Performance Share Units — 46,099 contracts (Direct);
Class A Common Stock — 274,105 shares (Direct)
Footnotes (3)
- F1. Each restricted stock unit ("RSU") represents a contingent right to receive, at settlement, one share of Class A Common Stock. The remaining RSUs are scheduled to vest on April 15, 2027.
- F2. The PSUs vested on April 15, 2026, and settled on April 16, 2026, due to an administrative processing delay. The tax-withholding price was based on April 15, 2026.
- F3. Each performance stock unit ("PSU") granted on April 15, 2024, represented a contingent right to receive one share of Class A Common Stock upon LDI achieving one fiscal quarter of positive adjusted net income. The remaining PSUs are scheduled to vest on April 15, 2027.
Key Figures
Derivative shares exercised: 92,198 shares
Tax-withholding shares: 27,752 shares
Tax-withholding price: $1.55 per share
+4 more
7 metrics
Derivative shares exercised
92,198 shares
Exercise or conversion of derivative securities on April 15, 2026
Tax-withholding shares
27,752 shares
Shares delivered to cover tax liabilities at $1.55 per share
Tax-withholding price
$1.55 per share
Price used for tax-withholding dispositions of Class A Common Stock
Post-transaction holdings
274,105 shares
Class A Common Stock directly owned after April 15, 2026 transactions
RSU vesting date
April 15, 2027
Remaining restricted stock units scheduled vesting date
PSU grant date
April 15, 2024
Performance share units grant date tied to adjusted net income target
PSU performance condition
One quarter positive adjusted net income
Condition for PSUs to deliver Class A Common Stock
Key Terms
Restricted Stock Units, Performance Share Units, tax-withholding disposition, adjusted net income
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents a contingent right to receive, at settlement, one share of Class A Common Stock."
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.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
adjusted net income financial
"upon LDI achieving one fiscal quarter of positive adjusted net income."
Adjusted net income is a company's reported profit after removing unusual, one-time, or non-operational items so the number reflects the business’s regular earning power. Investors use it like a cleaned-up scorecard — similar to judging a player’s season performance without a few fluke games — to compare companies or assess trends without being misled by rare gains or losses that won’t affect future cash flow.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did loanDepot (LDI) executive Joseph J. Grassi do in this Form 4?
Joseph J. Grassi III exercised equity awards into Class A Common Stock and used shares to cover taxes. He converted restricted stock units and performance share units into 92,198 shares, then had 27,752 shares withheld for tax obligations, ending with 274,105 shares held directly.
What are the restricted stock units in this loanDepot (LDI) Form 4?
Each restricted stock unit represents a contingent right to receive one Class A share at settlement. The Form 4 notes remaining RSUs for Joseph J. Grassi III are scheduled to vest on April 15, 2027, providing future stock delivery if service and other conditions are met.
What vesting schedule remains for loanDepot (LDI) RSUs and PSUs held by the CRO?
The remaining restricted stock units and performance share units are scheduled to vest on April 15, 2027. These unvested awards represent additional potential Class A Common Stock for Joseph J. Grassi III, contingent on continued service and, for PSUs, performance conditions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
