[SCHEDULE 13D/A] loanDepot, Inc. SEC Filing

Rhea-AI Filing Summary

Anthony Li Hsieh, founder and controlling shareholder of loanDepot (LDI), filed Amendment No. 16 to Schedule 13D updating his stake and recent trades.

• Current beneficial ownership: 126,486,927 Class A shares (assumes full conversion of Class C), equal to 54.3 % of the 111.0 million Class A shares outstanding.
• Voting / dispositive power: sole 9.19 m; shared 117.30 m.
• Equity awards: 1.60 m unvested RSUs; 15,096 RSUs settled into shares on 31-May-25.
• Recent open-market sales (via JLSSAA Trust): ~1.51 m shares sold at $1.50-$2.11 between 17-Mar-25 and 23-Jul-25.
• Corporate actions: exchanged 8.10 m Class C/LLC units for an equal number of Class A shares in Dec-24 and Mar-25; corresponding Class C shares cancelled.
• The Board appointed Hsieh as Interim CEO effective 4-Jun-25, consolidating managerial and ownership control.

Hsieh remains the majority owner despite modest insider selling. Investors should watch for further disposals and implications of concentrated governance.

Insights

Financial Analyst

TL;DR: Majority stake intact; small insider sales and interim CEO role have limited near-term valuation impact.

The filing confirms Anthony Hsieh still controls >54 % of loanDepot’s Class A shares, leaving strategic direction unchanged. The ~1.5 m-share sale represents just 1.2 % of his stake and was executed near $2, suggesting liquidity management rather than a fundamental view shift. Conversion of Class C units raised the public float slightly but did not dilute overall ownership. Appointment as Interim CEO may streamline decision-making but also heightens key-person risk. Overall, the disclosure is neutral for valuation; watch trading volumes for clues to additional sales.

Corporate Governance Specialist

TL;DR: Concentrated ownership persists; insider selling raises minor governance red flags.

Hsieh’s dual role as chair and interim CEO, combined with majority voting control, entrenches influence over board composition, capital allocation and executive pay. While conversions simplify the capital structure, minority holders remain exposed to limited checks on management. The recent open-market disposals—though small—signal that lock-ups are not absolute. Stakeholders should press for enhanced disclosure on future sales plans and succession beyond the interim period.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 16)

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)

07/21/2025

(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 9,191,842.00
8	Shared Voting Power 117,295,085.00
9	Sole Dispositive Power 9,191,842.00
10	Shared Dispositive Power 117,295,085.00

11

Aggregate amount beneficially owned by each reporting person

126,486,927.00

12

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

13

Percent of class represented by amount in Row (11)

54.3 %

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 111,009,806 shares of the Issuer's Class A Common Stock outstanding on May 5, 2025 as reported by the Issuer on a Form 10-Q filed with the SEC on May 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. 16 ("Amendment No. 16") 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. 16 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 and March 7, 2025 (as amended prior to the date hereof, the "Original Filing," and as amended by this Amendment No. 16, the "Statement"). Except as specifically provided herein, this Amendment No. 16 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 4.	Purpose of Transaction
	Item 4 of the Original Filing is hereby amended to add the following: As previously disclosed, the Board of Directors of the Issuer approved the appointment of the Reporting Person as Interim CEO of the Issuer as of the earlier of June 4, 2025 or the Issuer's 2025 annual meeting of stockholders. The Reporting Person assumed the role of Interim CEO as of June 4, 2025.
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 111,009,806 shares of the Issuer's Class A Common Stock outstanding on May 5, 2025 as reported by the Issuer on a Form 10-Q filed with the SEC on May 8, 2025. The Reporting Person also owns 1,598,425 unvested restricted stock units ("RSUs") 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 3/17/2025 436,248 $1.5007 (1) 7/18/2025 9,153 $2.0040 (2) 7/21/2025 672,865 $2.0200 (3) 7/22/2025 121,597 $2.0021 (4) 7/23/2025 267,326 $2.0080 (5) 1. The shares were sold in multiple transactions at prices ranging from $1.50 to $1.5074. 2. The shares were sold in a single transaction at a price of $2.004. 3. The shares were sold in multiple transactions at prices ranging from $2.00 to $2.08. 4. The shares were sold in multiple transactions at prices ranging from $2.00 to $2.01. 5. The shares were sold in multiple transactions at prices ranging from $2.00 to $2.11. On May 31, 2025, 15,096 RSUs were settled for a corresponding share of Class A Common Stock. 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 each of December 18, 2024 and March 18, 2025, the Reporting Person elected to cause Trilogy Mortgage Holdings, Inc to exchange 4,050,000 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 each of December 18, 2024 and March 18, 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:	07/23/2025

FAQ

How many loanDepot (LDI) shares does Anthony Hsieh currently control?

He beneficially owns 126,486,927 Class A shares, or 54.3 % of the company.

What recent insider sales were disclosed in the Schedule 13D/A?

~1.51 million shares were sold between 17-Mar-25 and 23-Jul-25 at prices ranging from $1.50 to $2.11.

When did Anthony Hsieh become Interim CEO of loanDepot?

The Board appointed him Interim CEO effective 4 June 2025.

Did the filing report any new share issuances or conversions?

Yes. On 18-Dec-24 and 18-Mar-25, Hsieh exchanged 8.10 m Class C/LLC units for Class A shares; related Class C shares were cancelled.

What is the significance of the unvested RSUs mentioned?

Hsieh holds 1.60 m unvested RSUs; 15,096 vested and were settled into shares on 31-May-25, potentially increasing his future voting power.