loanDepot grants RSUs to chief legal officer
loanDepot, Inc. reported equity award changes for Chief Legal & Risk Officer Joseph J. Grassi III.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
loanDepot, Inc. reported equity award changes for Chief Legal & Risk Officer Joseph J. Grassi III. On August 5, 2026, 102,201 performance share units were canceled and treated as a disposition to the issuer, and an equivalent 102,201 time-based RSUs were granted, vesting in three equal annual installments starting March 16, 2027. The compensation committee also approved an additional 250,000 RSUs, expected to be granted on September 15, 2026, vesting in two equal annual installments.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Grassi Joseph J III
Role
Chief Legal & Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Performance Share Units F1, F2 | 102,201 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Units F3, F2 | 102,201 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Units F4, F5 | 250,000 | $0.00 | $0.00 |
Holdings After Transaction:
Performance Share Units — 0 units (Direct);
Restricted Stock Units — 352,201 units (Direct)
Holdings Before and After:
Performance Share Units, 102,201 to 0 units (Direct);
Restricted Stock Units, 0 to 352,201 units (Direct)
Footnotes (5)
- F1. Each performance restricted stock unit ("PSU") represented a contingent right to receive one share of the issuer's Class A Common Stock. The PSUs were originally subject to vesting upon the issuer's Class A Common Stock achieving specified prices per share.
- F2. On August 5, 2026, the issuer's compensation committee amended the terms of the PSUs originally granted to the reporting person on March 16, 2026, to modify the PSU award to provide for ratable vesting over a three-year period, exclusively based on the reporting person's continuous services. For Form 4 reporting purposes, the amendment is reported as the cancellation of the original PSUs and the concurrent grant of replacement restricted stock units ("RSUs").
- F3. Each RSU represents a contingent right to receive, at settlement, one share of the issuer's Class A Common Stock. The RSUs vest in three equal annual increments commencing March 16, 2027, the first anniversary of the original PSU grant.
- F4. Each RSU represents a contingent right to receive, at settlement, one share of the issuer's Class A Common Stock. The RSUs vest in two equal annual increments on the first and second anniversaries of the grant date, which is expected to be September 15, 2026.
- F5. The transaction date is the date that the RSU terms were approved by the issuer's compensation committee. The RSUs are expected to be granted on September 15, 2026.
Key Figures
PSUs canceled: 102201.0000 units
Replacement RSUs granted: 102201.0000 units
Additional RSUs approved: 250000.0000 units
+1 more
4 metrics
PSUs canceled
102201.0000 units
Performance Share Units disposed of to issuer on 2026-08-05 as part of award amendment
Replacement RSUs granted
102201.0000 units
RSUs vesting in three equal annual installments commencing March 16, 2027
Additional RSUs approved
250000.0000 units
RSUs expected to be granted on September 15, 2026, vesting in two equal annual increments
Original PSU expiration
2029-03-16
Expiration date of the original PSU award prior to its amendment and cancellation
Key Terms
Performance Share Units, Restricted Stock Units, ratable vesting, compensation committee
4 terms
Restricted Stock Units financial
"Each RSU represents a contingent right to receive, at settlement, one share"
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.
ratable vesting financial
"to modify the PSU award to provide for ratable vesting over a three-year period"
compensation committee financial
"the issuer's compensation committee amended the terms of the PSUs"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity awards did loanDepot (LDI) grant to Joseph J. Grassi III on August 5, 2026?
Joseph J. Grassi III received 102,201 replacement RSUs and board approval for an additional 250,000 RSUs. The 102,201 RSUs replace canceled PSUs and vest over three years; the 250,000 RSUs are expected to be granted September 15, 2026, and vest over two years.
What is the vesting schedule for the replacement RSUs reported by loanDepot (LDI)?
The 102,201 replacement RSUs vest in three equal annual installments starting March 16, 2027. This date is the first anniversary of the original PSU grant, and vesting continues annually thereafter, subject to Joseph J. Grassi III’s continued service at loanDepot.
What are the terms of the additional 250,000 RSUs approved for Joseph J. Grassi III at loanDepot (LDI)?
An additional 250,000 RSUs were approved, expected to be granted on September 15, 2026. These RSUs vest in two equal annual installments on the first and second anniversaries of the grant date, providing time-based retention incentives tied to continued employment.
Did the loanDepot (LDI) Form 4 report any open-market stock sales by Joseph J. Grassi III?
No open-market purchases or sales were reported; all entries involve PSUs and RSUs at $0.00 per unit. The disposition reflects cancellation of PSUs to the issuer, paired with new and replacement RSU grants approved by the compensation committee.
Are the new loanDepot (LDI) RSU transactions under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not marked as being pursuant to such a plan. The transactions instead reflect compensation committee actions amending existing equity awards and approving new RSU grants for Joseph J. Grassi III.
AI-generated analysis. How Rhea-AI works. Not financial advice.
