LDI Filing: Hsieh Discloses 48.50% Ownership and 2.65M Share Sales

Rhea-AI Filing Summary

Amendment No. 20 to a Schedule 13D reports Anthony Li Hsieh's beneficial ownership of loanDepot, Inc. Class A common stock. The filing states the Reporting Person beneficially owns 113,438,762 shares, representing 48.50% of Class A stock based on 112,351,102 shares outstanding as of August 6, 2025. The statement notes the Reporting Person holds 73,819 unvested RSUs and 1,500,000 unvested PSUs and that certain Class C shares assumed converted may be delivered to third parties. The filing discloses share sales by the JLSSAA Trust: 1,300,000 shares on 9/12/2025 at a weighted average price of $4.1028 and 1,350,000 shares on 9/15/2025 at a weighted average price of $4.6128, with reported price ranges for the transactions.

Positive

• High disclosed ownership: Reporting Person beneficially owns 113,438,762 shares, equal to 48.50% of Class A, indicating significant influence.
• Transparent sale disclosure: The filing provides dates, share counts, weighted average prices, and price ranges for sales on 9/12/2025 and 9/15/2025.

Negative

• Substantial disposition: The JLSSAA Trust sold a total of 2,650,000 shares across two dates, which could be viewed as reducing economic exposure.
• Uncertainty on convertibles: Certain 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, reducing clarity on eventual ownership.

Insights

Financial Analyst

TL;DR: Major holder still controls roughly half of Class A shares; recent block sales of ~2.65M shares were disclosed.

The Reporting Person's aggregated beneficial ownership of 48.50% of Class A common stock is material to equity control and voting outcomes at loanDepot. The filing carefully notes assumed conversion of Class C shares in the ownership calculation and that some convertible shares are contractual deliverables to third parties, which may reduce retained shares upon exchange. The disclosed secondary market activity by the JLSSAA Trust—1.3M and 1.35M shares sold on 9/12/2025 and 9/15/2025 at weighted average prices of $4.1028 and $4.6128, respectively—indicates liquidity events but does not by itself change the reported aggregate percentage in this filing. This amendment focuses on ownership and transaction disclosure rather than operational or financial performance.

Corporate Governance Expert

TL;DR: A single reporting person retains substantial influence; disclosed sales are notable for governance and insider activity monitoring.

The Reporting Person's near-half stake in Class A shares implies sustained governance influence and potential control over shareholder votes tied to Class A holdings. The amendment reiterates prior Schedule 13D disclosures and clarifies the composition of beneficial ownership, including unvested equity awards. The stated open-market sales totaling 2,650,000 shares over two dates are properly disclosed with weighted average prices and transaction price ranges, supporting transparency for investors and regulators monitoring insider or affiliated sales. No new governance arrangements, agreements, or changes to control terms are reported in this amendment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 20)

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)

09/12/2025

(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 113,295,085.00
9	Sole Dispositive Power 143,677.00
10	Shared Dispositive Power 113,295,085.00

11

Aggregate amount beneficially owned by each reporting person

113,438,762.00

12

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

13

Percent of class represented by amount in Row (11)

48.50 %

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 112,351,102 shares of the Issuer's Class A Common Stock outstanding on August 6, 2025 as reported by the Issuer on a Form 10-Q filed with the SEC on August 8, 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. 20 ("Amendment No. 20") 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. 20 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 and September 9, 2025 (as amended prior to the date hereof, the "Original Filing," and as amended by this Amendment No. 20, the "Statement"). Except as specifically provided herein, this Amendment No. 20 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 112,351,102 shares of the Issuer's Class A Common Stock outstanding on August 6, 2025 as reported by the Issuer on a Form 10-Q filed with the SEC on August 8, 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 9/12/2025 1,300,000 $4.1028 (1) 9/15/2025 1,350,000 $4.6128 (2) 1. The shares were sold in multiple transactions at prices ranging from $4.00 to $4.32. 2. The shares were sold in multiple transactions at prices ranging from $4.315 to $4.785.

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:	09/16/2025

FAQ

How many Class A shares of loanDepot (LDI) does Anthony Li Hsieh report beneficially owning?

The filing reports 113,438,762 shares of Class A common stock, representing 48.50% of the Class A shares outstanding used in the calculation.

Did Anthony Li Hsieh or affiliated trusts sell any loanDepot (LDI) shares recently?

Yes. The JLSSAA Trust sold 1,300,000 shares on 9/12/2025 at a weighted average price of $4.1028 and 1,350,000 shares on 9/15/2025 at a weighted average price of $4.6128.

Are there any unvested awards reported by the Reporting Person?

Yes. The Reporting Person holds 73,819 unvested RSUs and 1,500,000 unvested PSUs of the Issuer.

Does the Schedule 13D amendment indicate a change in control or new agreements?

No. The amendment updates ownership and transaction details and states it does not modify other information in the Original Filing; it does not report new control arrangements or agreements.

What basis was used to calculate the 48.50% ownership figure?

The percentage is based on 112,351,102 Class A shares outstanding as reported by the Issuer on August 6, 2025.