Anthony Hsieh updates loanDepot (LDI) holdings and 2M-share sales

Rhea-AI Filing Summary

loanDepot, Inc. (LDI) received Amendment No. 22 to a Schedule 13D from founder Anthony Li Hsieh updating his ownership in the company’s Class A common stock. Hsieh reports beneficial ownership of 110,138,762 shares of Class A common stock, representing 46.63% of the class, based on 126,394,171 shares outstanding as of November 5, 2025 and reflecting the issuance of 2,000,000 new Class A shares from his conversion of an equal number of Class C shares on October 20, 2025. He holds 143,677 shares with sole voting and dispositive power and 109,995,085 shares with shared voting and dispositive power, and also owns 73,819 unvested RSUs and 1,500,000 unvested PSUs. Through the JLSSAA Trust, he sold 700,000 shares on November 12, 2025, 1,121,499 shares on November 14, 2025, and 178,501 shares on November 17, 2025 at weighted average prices between about $2.50 and $2.87 per share under a Rule 10b5-1 trading plan dated November 20, 2024.

Insights

Equity ownership and governance analyst

Founder Anthony Hsieh reaffirms a 46.63% economic stake while disclosing recent planned share sales and a Class C to Class A conversion.

Anthony Li Hsieh reports beneficial ownership of 110,138,762 loanDepot Class A shares, or 46.63% of the class, based on 126,394,171 shares outstanding as of November 5, 2025. Most of this stake (109,995,085 shares) is held with shared voting and dispositive power, with only 143,677 shares held solely, indicating continued alignment with other Class C stockholders referenced in the filing framework.

The amendment highlights structural features of loanDepot’s “Up-C” style arrangement. On October 20, 2025, Hsieh caused 2,000,000 LD Holdings Common Units and corresponding Class C shares to be exchanged for 2,000,000 newly issued Class A shares on a one-for-one basis, with the related Class C shares canceled for no consideration. He also holds 73,819 unvested RSUs and 1,500,000 unvested PSUs, which tie additional value to company performance and service conditions.

Trading activity is also updated: through the JLSSAA Trust, Hsieh sold 700,000 shares on November 12, 2025 at a weighted average price of $2.8747, 1,121,499 shares on November 14, 2025 at $2.4988, and 178,501 shares on November 17, 2025 at $2.5046. These transactions were executed under a Rule 10b5-1 plan dated November 20, 2024, indicating pre-arranged, formulaic selling rather than ad hoc trades.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 22)

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)

11/14/2025

(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 143,677.00
8	Shared Voting Power 109,995,085.00
9	Sole Dispositive Power 143,677.00
10	Shared Dispositive Power 109,995,085.00

11

Aggregate amount beneficially owned by each reporting person

110,138,762.00

12

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

13

Percent of class represented by amount in Row (11)

46.63 %

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. Also reflects the issuance of 2,000,000 shares of Class A Common Stock upon the Reporting Person's conversion of an equal number of shares of Class C Common Stock on October 20, 2025 (all terms as defined below).

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. 22 ("Amendment No. 22") 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. 22 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 and October 16, 2025 (as amended prior to the date hereof, the "Original Filing," and as amended by this Amendment No. 22, the "Statement"). Except as specifically provided herein, this Amendment No. 22 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 and also reflects the issuance of 2,000,000 shares of Class A Common Stock upon the Reporting Person's conversion of an equal number of shares of Class C Common Stock on October 20, 2025. The Reporting Person also owns 73,819 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 11/12/2025 700,000 $2.8747 (1) 11/14/2025 1,121,499 $2.4988 (2) 11/17/2025 178,501 $2.5046 (3) 1. The shares were sold in multiple transactions at prices ranging from $2.785 to $3.035. 2. The shares were sold in multiple transactions at prices ranging from $2.435 to $2.610. 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 $2.475 to $2.540. 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 October 20, 2025, the Reporting Person elected to cause Trilogy Mortgage Holdings, Inc to exchange 2,000,000 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 October 20, 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:	11/18/2025

FAQ

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

Anthony Li Hsieh reports beneficial ownership of 110,138,762 shares of loanDepot Class A common stock, representing 46.63% of the Class A shares outstanding based on 126,394,171 shares as of November 5, 2025.

How many loanDepot (LDI) shares does Anthony Hsieh hold with sole vs. shared voting power?

Anthony Hsieh reports 143,677 Class A shares with sole voting and dispositive power and 109,995,085 Class A shares with shared voting and dispositive power.

What recent stock sales by Anthony Hsieh are disclosed for loanDepot (LDI)?

Through the JLSSAA Trust, Hsieh sold 700,000 shares on November 12, 2025 at a weighted average price of $2.8747, 1,121,499 shares on November 14, 2025 at $2.4988, and 178,501 shares on November 17, 2025 at $2.5046, in multiple transactions within stated price ranges.

Were Anthony Hsieh’s recent loanDepot (LDI) share sales under a Rule 10b5-1 plan?

Yes. The sales on November 14, 2025 and November 17, 2025 are stated to have been effected pursuant to Anthony Hsieh’s Rule 10b5-1 trading plan dated November 20, 2024. The filing also notes price ranges for each sale day.

What conversion of Class C to Class A stock does this loanDepot (LDI) filing describe?

On October 20, 2025, Hsieh elected to cause Trilogy Mortgage Holdings, Inc. to exchange 2,000,000 LD Holdings Common Units and corresponding shares of Class C common stock for 2,000,000 shares of loanDepot Class A common stock, with the related Class C shares cancelled for no consideration.

What additional equity awards does Anthony Hsieh hold in loanDepot (LDI)?

Beyond his reported share ownership, Anthony Hsieh also holds 73,819 unvested restricted stock units (RSUs) and 1,500,000 unvested performance stock units (PSUs) of loanDepot.

How is the share count base for Anthony Hsieh’s ownership in loanDepot (LDI) determined?

The reported 46.63% stake is calculated using 126,394,171 Class A shares outstanding as of November 5, 2025, as disclosed in a Form 10-Q, and reflects the issuance of 2,000,000 Class A shares from Hsieh’s October 20, 2025 Class C conversion.