Major loanDepot (NYSE: LDI) holder updates 13D after planned share sales

Rhea-AI Filing Summary

loanDepot, Inc. shareholder Anthony Li Hsieh filed Amendment No. 24 to his Schedule 13D to update his beneficial ownership and recent transactions in Class A common stock. He reports beneficial ownership of 106,563,368 shares of Class A common stock, representing 45.11% of the class, based on 126,394,171 shares outstanding as of November 5, 2025. This includes 168,283 shares over which he has sole voting and dispositive power and 106,395,085 shares over which he shares voting and dispositive power.

Hsieh, through the JLSSAA Trust, sold 217,774 shares on December 19, 2025 at a weighted average price of $2.2776, 415,505 shares on January 14, 2026 at $2.6559, and 884,495 shares on January 15, 2026 at $2.6956, all under a Rule 10b5-1 trading plan dated November 20, 2024. On December 21, 2025, Trilogy Mortgage Holdings, Inc., for Hsieh’s benefit, exchanged 1,300,000 LD Holdings Common Units and corresponding Class C common stock for 1,300,000 shares of loanDepot Class A common stock, with the related Class C shares cancelled for no consideration.

Insights

Equity ownership & governance analyst

Hsieh remains a controlling loanDepot holder while trimming via a 10b5-1 plan.

Anthony Li Hsieh continues to report substantial influence over loanDepot, Inc., with beneficial ownership of 106,563,368 shares of Class A common stock. This stake represents 45.11% of the class, based on 126,394,171 shares outstanding as of November 5, 2025, and is split between a small block with sole voting power and a very large block with shared voting and dispositive power.

The amendment details sales executed through the JLSSAA Trust: 217,774 shares at a weighted average of $2.2776 on December 19, 2025, 415,505 shares at $2.6559 on January 14, 2026, and 884,495 shares at $2.6956 on January 15, 2026. All were carried out under a pre-established Rule 10b5-1 trading plan dated November 20, 2024, indicating these dispositions were scheduled in advance.

The filing also notes that on December 21, 2025, Trilogy Mortgage Holdings, Inc. exchanged 1,300,000 LD Holdings Common Units and corresponding Class C common stock for 1,300,000 loanDepot Class A shares, with the related Class C shares cancelled for no consideration. This shifts part of Hsieh’s economic interest from partnership-style units and Class C shares into Class A common stock while maintaining a large overall position; any further changes in ownership structure would be reflected in subsequent beneficial ownership reports.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 24)

loanDepot, Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

53946R106

(CUSIP Number)

Covington & Burling LLP
One CityCenter, 850 Tenth Street, NW
Washington, DC, 20001
202-662-6000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/15/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 53946R106

1

Name of reporting person

Hsieh Anthony Li

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 168,283.00
8	Shared Voting Power 106,395,085.00
9	Sole Dispositive Power 168,283.00
10	Shared Dispositive Power 106,395,085.00

11

Aggregate amount beneficially owned by each reporting person

106,563,368.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

45.11 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Box 13 - (1) Calculated in accordance with the SEC's rules for calculating "beneficial ownership," which requires the Reporting Person to assume conversion of all of such person's Class C Common Stock but conversion of no other Class C Common Stock. (2) Based on 126,394,171 shares of the Issuer's Class A Common Stock outstanding on November 5, 2025 as reported by the Issuer on a Form 10-Q filed with the SEC on November 7, 2025.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock
(b)	Name of Issuer: loanDepot, Inc.
(c)	Address of Issuer's Principal Executive Offices: 6561 Irvine Center Drive, Irvine, CALIFORNIA , 92618.
Item 1 Comment: This Amendment No. 24 ("Amendment No. 24") to Schedule 13D (this "Schedule 13D") is filed by Anthony Hsieh (the "Reporting Person") and relates to the beneficial ownership of certain shares of Class A Common Stock, par value $0.001 per share (the "Class A Common Stock"), of loanDepot, Inc., a Delaware corporation ("loanDepot" or the "Issuer"). Amendment No. 24 amends the initial statement on Schedule 13D filed by the Reporting Person on November 16, 2021, as amended on April 26, 2022, May 6, 2022, January 10, 2023, February 7, 2023, April 6, 2023, May 28, 2024, August 20, 2024, September 3, 2024, September 10, 2024, September 16, 2024, November 5, 2024, November 25, 2024, December 5, 2024, March 7, 2025, July 23, 2025, August 26, 2025, September 3, 2025, September 9, 2025, September 16, 2025, October 16, 2025, November 18, 2025 and December 18, 2025 (as amended prior to the date hereof, the "Original Filing," and as amended by this Amendment No. 24, the "Statement"). Except as specifically provided herein, this Amendment No. 24 does not modify any of the information previously reported in the Original Filing. Capitalized terms used but not defined have the meaning given them in the Original Filing.
Item 5.	Interest in Securities of the Issuer
(a)	The information relating to the beneficial ownership of the Class A Common Stock by the Reporting Person set forth in Rows 7 through 13 of the cover page hereto and the related footnotes are incorporated by reference herein and is as of the date hereof. Such information assumes there are 126,394,171 shares of the Issuer's Class A Common Stock outstanding on November 5, 2025 as reported by the Issuer on a Form 10-Q filed with the SEC on November 7, 2025. The Reporting Person also owns 49,213 unvested restricted stock units ("RSUs") and 1,500,000 unvested performance stock units ("PSUs") of the Issuer. By virtue of the relationship among the Reporting Person and the Class C Stockholders (as defined in the Original Filing), the Reporting Person may be deemed to share the power to vote or direct the vote and to share the power to dispose of or direct the disposition of the shares of Class A Common Stock as set forth in rows 7 through 13 of the cover pages of this Statement. The filing of this Statement shall not be construed as an admission that such individual is, for the purpose of Section 13(d) or 13(g) of the Exchange Act, the beneficial owner of any securities covered by this Statement. Certain of the shares obtainable upon exchange of Class C Common Stock are required to be delivered to third parties and would not be retained by the Reporting Person upon exchange.
(b)	Please see Item 5(a) above.
(c)	The Reporting Person, through the JLSSAA Trust, has sold certain shares of Class A Common Stock as shown in the table below. The amounts reported are weighted average prices. 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 at which the respective transactions were effected. Date Number of Shares Weighted Average Price 12/19/2025 217,774 $2.2776 (1) 1/14/2026 415,505 $2.6559 (2) 1/15/2026 884,495 $2.6956 (3) 1. The shares were sold in multiple transactions at prices ranging from $2.23 to $2.35. These sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan dated November 20, 2024. 2. The shares were sold in multiple transactions at prices ranging from $2.61 to $2.675. These sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan dated November 20, 2024. 3. The shares were sold in multiple transactions at prices ranging from $2.60 to $2.77. These sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan dated November 20, 2024. As described in the Original Filing, in connection with the 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. 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 C 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. On December 21, 2025, the Reporting Person elected to cause Trilogy Mortgage Holdings, Inc to exchange 1,300,000 Common Units held for their benefit by such entity for an equal number of shares of Class A Common Stock. The shares of Class C Common Stock corresponding to the Common Units that were exchanged for Class A Common Stock were cancelled for no consideration on December 21, 2025.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Hsieh Anthony Li

Signature:	/s/ Anthony Li Hsieh
Name/Title:	Anthony Li Hsieh
Date:	01/20/2026

FAQ

What does loanDepot (LDI) shareholder Anthony Hsieh report in this Schedule 13D/A?

The amendment shows that Anthony Li Hsieh updated his Schedule 13D to reflect his current beneficial ownership of loanDepot Class A common stock and to disclose recent share sales executed under a Rule 10b5-1 plan, as well as an exchange of Class C-related units into Class A shares.

How many loanDepot (LDI) shares does Anthony Hsieh beneficially own after this amendment?

Hsieh reports beneficial ownership of 106,563,368 shares of loanDepot Class A common stock, representing 45.11% of the class, based on 126,394,171 Class A shares outstanding as of November 5, 2025.

What recent loanDepot (LDI) stock sales are disclosed in the filing?

Through the JLSSAA Trust, Hsieh reports sales of 217,774 shares at a weighted average price of $2.2776 on December 19, 2025, 415,505 shares at $2.6559 on January 14, 2026, and 884,495 shares at $2.6956 on January 15, 2026.

Were the loanDepot (LDI) share sales by Anthony Hsieh pre-planned?

Yes. The disclosed sales were effected pursuant to Hsieh’s Rule 10b5-1 trading plan dated November 20, 2024, which schedules transactions in advance under preset instructions.

What is the significance of the 1,300,000-unit exchange mentioned in the loanDepot (LDI) filing?

On December 21, 2025, Trilogy Mortgage Holdings, Inc., for Hsieh’s benefit, exchanged 1,300,000 LD Holdings Common Units and corresponding Class C common stock for 1,300,000 loanDepot Class A shares. The related Class C shares were cancelled for no consideration, moving that interest into Class A common stock.

Does Anthony Hsieh still have significant influence over loanDepot (LDI) after these transactions?

Yes. With beneficial ownership of 106,563,368 Class A shares, or 45.11% of the outstanding Class A common stock, Hsieh continues to hold a very large stake and substantial influence as reported in this amendment.