LDI Form 4: CEO Anthony Hsieh disposes 2,043,712 Class A shares
Rhea-AI Filing Summary
Anthony Li Hsieh, Executive Chair, CEO & President of loanDepot, Inc. (LDI), reported sales of Class A common stock on 09/09/2025. The Form 4 shows 2,043,712 Class A shares were sold in multiple transactions at a weighted average price of $3.254 per share, with transaction prices ranging from $3.01 to $3.51. After these dispositions, Hsieh beneficially owns 2,650,000 shares indirectly through the JLSSAA Trust and 143,677 shares directly. The filing notes Hsieh, as trustee, has voting and investment power over the JLSSAA Trust assets.
Positive
- None.
Negative
- Reported large sale: 2,043,712 Class A shares sold on 09/09/2025 at a weighted average price of $3.254 (prices ranged $3.01–$3.51).
- Limited disclosure on rationale: Form 4 does not state whether the sales were pursuant to a 10b5-1 trading plan or the economic reason for the dispositions.
Insights
TL;DR: Insider sold a sizeable block at ~ $3.25 weighted average; remaining indirect stake remains material.
The sale of 2,043,712 Class A shares represents a meaningful liquidity event by the company’s top executive. At the reported weighted average price of $3.254, proceeds would be material on an individual basis but the filing does not state total proceeds in dollars. Post-transaction holdings show continued substantial indirect ownership (2.65 million shares) via the JLSSAA Trust plus 143,677 direct shares, indicating the reporting person retains meaningful exposure to equity performance. No derivative transactions or additional context (purpose of sale, pre-arranged plan) are provided in the filing.
TL;DR: Large insider disposition may raise governance questions about timing and rationale.
The Form 4 discloses significant dispositions by the Executive Chair and CEO. While the filing states the shares were sold across multiple prices between $3.01 and $3.51, it does not indicate whether the trades were part of a Rule 10b5-1 plan or other pre-arranged arrangement. The reporting person remains a substantial indirect holder as trustee of the JLSSAA Trust, but the lack of explanatory detail in the filing can prompt investor scrutiny regarding the motivation and timing of the sales.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 2,043,712 | $3.254 | $6.65M |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $3.01 to $3.51. 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").
