Jeff Alexander Walsh - Oct 1, 2023 Form 4 Insider Report for loanDepot, Inc. (LDI)

Signature
/s/ Amanda Darby, as Attorney-in-Fact for Jeff Walsh
Stock symbol
LDI
Transactions as of
Oct 1, 2023
Transactions value $
-$11,985
Form type
4
Date filed
10/3/2023, 05:57 PM
Previous filing
Sep 13, 2023
Next filing
Nov 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LDI Class A Common Stock, par value $0.001 per share Conversion of derivative security $0 +107K +2.52% $0.00 4.33M Oct 1, 2023 Direct F1, F2, F3
transaction LDI Class A Common Stock, par value $0.001 per share Sale -$12K -7.14K -0.16% $1.68 4.33M Oct 2, 2023 Direct F4, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LDI Common Units Conversion of derivative security $0 -107K -1.21% $0.00 8.72M Oct 1, 2023 Class A Common Stock 107K Trilogy Management Investors Seven, LLC F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 In the reorganization transactions related to Issuer's IPO, shares of Issuer's Class C Common Stock, par value $0.001, were issued to certain holders of 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, par value $0.001 ("Class A Common Stock") of the Issuer 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.
F2 The Reporting Person has, and at all times since the Issuer's initial public offering ("IPO") has held, an indirect pecuniary interest in a portion of the securities of the Issuer and LD Holdings Group LLC ("LD Holdings") directly held by Trilogy Management Investors Seven, LLC ("Trilogy Seven") as reported on Anthony Hsieh's Form 4 filed on February 16, 2021. All of the securities of the Issuer held by Trilogy Seven are directly reported by Trilogy Seven and were not previously reported by the persons holding an indirect interest in the securities. The Reporting Person disclaims beneficial ownership of the securities held by Trilogy Seven except to the extent of his pecuniary interest therein.
F3 The Reporting Person elected to cause Trilogy Seven to exchange a portion of the Common Units beneficially owned by the Reporting Person for an equal number of shares of Class A Common Stock, and to cause Trilogy Seven to transfer such shares of Class A Common Stock to the Reporting Person directly. The shares of Class C Common Stock corresponding to the Common Units that were exchanged were cancelled for no consideration. The cancellation of the shares of Class C Common Stock is reported by Trilogy Seven on Anthony Hsieh's Form 4 filed on June 3, 2021.
F4 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 9, 2023.
F5 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $1.66 to $1.70. 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 within the ranges set forth in this footnote of this Form 4 at which the respective transactions were affected.