[Form 4] OppFi Inc. Insider Trading Activity
Rhea-AI Filing Summary
Theodore G. Schwartz, a director and greater-than-10% owner of OppFi Inc. (OPFI), reported exchanges and sales of company securities on August 11–12, 2025. The Form 4 shows the conversion of Common Units into Class A common stock under the issuer's Exchange Rights and the cancellation of corresponding Class V voting shares. Reported disposals total 199,644 Class A shares. Sales were executed pursuant to a Rule 10b5-1 trading plan adopted December 10, 2024 at weighted-average prices of $11.0814 and $10.7966. After the transactions the reporting person retains indirect voting interests through OppFi Shares, LLC totaling approximately 21,932,075 Class V shares.
Positive
- None.
Negative
- None.
Insights
TL;DR: Insider executed planned exchanges and sizeable sales (~199,644 Class A shares) under a 10b5-1 plan at ~$10.8–$11.1.
The Form 4 documents the conversion of Common Units into Class A shares and subsequent disposals on Aug 11–12, 2025, with weighted-average sale prices of $11.0814 and $10.7966. The transactions were carried out pursuant to an established Rule 10b5-1 plan, which indicates pre-arranged timing. The reporting person continues to hold significant indirect voting power via OppFi Shares, LLC (~21.93 million Class V shares), so control dynamics remain largely unchanged on the record.
TL;DR: Large insider disposals reported; although done under a 10b5-1 plan, such sales can draw investor attention to insider liquidity.
The filing shows the cancellation of Class V voting shares tied to exercised Exchange Rights and the disposition of 199,644 Class A shares. The sales' execution under a Rule 10b5-1 plan (adopted Dec 10, 2024) provides compliance context, but the magnitude of the disposals is material in absolute terms and may be noted by governance stakeholders monitoring insider activity. Indirect control through OppFi Shares, LLC remains significant.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class A Common Units | 68,213 | $0.00 | -- |
| Exercise | Class A Common Units | 34,112 | $0.00 | -- |
| Disposition | Class V Common Stock | 68,213 | $0.00 | -- |
| Disposition | Class V Common Stock | 34,112 | $0.00 | -- |
| Exercise | Class A Common Stock | 68,213 | $0.00 | -- |
| Sale | Class A Common Stock | 68,213 | $10.7966 | $736K |
| Exercise | Class A Common Stock | 34,112 | $0.00 | -- |
| Sale | Class A Common Stock | 34,112 | $10.7966 | $368K |
| Exercise | Class A Common Units | 68,637 | $0.00 | -- |
| Exercise | Class A Common Units | 34,322 | $0.00 | -- |
| Disposition | Class V Common Stock | 68,637 | $0.00 | -- |
| Disposition | Class V Common Stock | 34,322 | $0.00 | -- |
| Exercise | Class A Common Stock | 68,637 | $0.00 | -- |
| Sale | Class A Common Stock | 68,637 | $11.0814 | $761K |
| Exercise | Class A Common Stock | 34,322 | $0.00 | -- |
| Sale | Class A Common Stock | 34,322 | $11.0814 | $380K |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Shares of Class V common stock, par value $0.0001 per share ("Class V Common Stock"), of OppFi Inc. (the "Issuer") represent voting, non-economic interests in the Issuer. Except as provided in the Issuer's certificate of incorporation, as amended, or as required by applicable law, holders of Class V Common Stock will be entitled to one vote per share of Class V Common Stock on all matters to be voted on by the Issuer's stockholders generally. The shares of Class V Common Stock will be cancelled by the Issuer if the reporting person exercises (or causes LTHS Capital Group LP or LTHS Revocable Trust to exercise) Exchange Rights (as defined below in footnote 9). Reflects the cancellation of shares of Class V Common Stock in connection with the exercise of the Exchange Rights with respect to an equivalent number of Class A common units ("Common Units") of Opportunity Financial, LLC ("Opportunity Financial"). The shares of Class V Common Stock are held by OppFi Shares, LLC ("OFS"), which has sole voting power over the shares of Class V Common Stock reported in Table I hereof. The reporting person has the indirect right to cause OFS to dispose of the shares of Class V Common Stock reported in Table I hereof to the Issuer pursuant to the reporting person's (or LTHS Capital Group LP's or LTHS Revocable Trust's) Exchange Rights. Reflects shares of Class A Common Stock, par value $0.0001 per share ("Class A Common Stock"), of the Issuer received in connection with the exercise of the Exchange Rights. The reporting person is the manager of the general partner of LTHS Capital Group LP and may be deemed to beneficially own the securities held by LTHS Capital Group LP. The reporting person disclaims beneficial ownership of such securities, except to the extent of his pecuniary interest therein. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 10, 2024. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions with prices ranging from $10.56 to $11.30 for a weighted average sale price of $11.0814. 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, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions with prices ranging from $10.65 to $11.01 for a weighted average sale price of $10.7966. 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, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Common Units generally represent economic, non-voting interests in Opportunity Financial. The Issuer is the sole manager of Opportunity Financial and controls Opportunity Financial, except as provided by the Third Amended and Restated Limited Liability Company Agreement of Opportunity Financial (the "LLC Agreement") or applicable law. Pursuant to the LLC Agreement, each Common Unit can be exchanged by the holder from time to time for either one share of Class A common stock of the Issuer or, at the election of the Issuer in its capacity as the sole manager of Opportunity Financial, the cash equivalent of the market value of one share of Class A Common Stock (the "Exchange Rights").
