LDI Form 4: Anthony Hsieh disposes 4.16M Class A shares via 10b5-1
Rhea-AI Filing Summary
Anthony Li Hsieh, Executive Chair, CEO & Pres. of loanDepot, Inc. (LDI), reported planned open-market sales under a Rule 10b5-1 plan. The Form 4 shows Hsieh effected sales of 1,110,454 Class A shares on 09/04/2025 at a weighted-average price of $2.1746, and 3,046,005 Class A shares on 09/05/2025 at a weighted-average price of $2.644. After the 09/04 transactions his beneficial ownership by the JLSSAA Trust was reported as 7,739,717 shares; following the 09/05 transactions it was 4,693,712 shares. The filing states the sales were made pursuant to a 10b5-1 trading plan adopted on November 20, 2024, and notes the shares were sold in multiple transactions across stated price ranges.
Positive
- Sales were executed under a documented Rule 10b5-1 trading plan adopted on November 20, 2024, which provides an affirmative defense for pre-planned trades
- Filing discloses weighted-average prices and price ranges and offers to provide specific trade amounts and pricing upon request
Negative
- Large insider disposals totaling 4,156,459 Class A shares (1,110,454 on 09/04/2025 and 3,046,005 on 09/05/2025) materially reduced beneficial ownership
- Beneficial ownership reported for the JLSSAA Trust fell from 7,739,717 to 4,693,712 shares following the reported transactions
Insights
TL;DR: Significant insider disposition occurred via a pre-existing 10b5-1 plan, reducing beneficial holdings materially over two days.
The reporting person executed sizable open-market sales totaling 4,156,459 Class A shares across 09/04/2025 and 09/05/2025, using a Rule 10b5-1 plan adopted 11/20/2024. The filing provides weighted-average prices and price ranges for the multiple trades, and shows beneficial ownership by the JLSSAA Trust declined from 7,739,717 to 4,693,712 shares. From an investor-disclosure perspective, use of a documented 10b5-1 plan clarifies these were pre-planned dispositions rather than ad hoc sales, and the filing supplies sufficient trade-range detail on request.
TL;DR: Transactions were executed under an established trading plan, and voting/investment power is held indirectly via the JLSSAA Trust.
The Form 4 explicitly states Anthony Hsieh acts as trustee with voting and investment power over The JLSSAA Trust assets. The report discloses the mechanics and timing of sales under a documented 10b5-1 plan, and provides weighted-average prices plus noted ranges. This filing is procedurally complete: it identifies relationship to the issuer, filing person roles, and includes an attorney-in-fact signature dated 09/08/2025.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 3,046,005 | $2.644 | $8.05M |
| Sale | Class A Common Stock | 1,110,454 | $2.1746 | $2.41M |
| 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 $2.01 to $2.28. 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 ("JLSSAA Trust"). The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $2.29 to $2.90. 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.
