SCHWARTZ THEODORE G 4

What Happened
Theodore G. Schwartz, identified as a 10% owner, exercised exchange/conversion rights on April 28, 2026 that involved 18,887,359 and 3,000,000 shares of Class V common stock (total 21,887,359). The filings show zero cash consideration — the Class V shares were cancelled and the reporting person received (or caused the receipt of) the equivalent Class A common stock/common units under the issuer's exchange provisions. The transactions are recorded as both exercise/conversion (code M) and disposition to the issuer (code D), reflecting the conversion and cancellation rather than a market sale.

Key Details

• Transaction date: April 28, 2026; Form 4 filed April 30, 2026 (appears timely).
• Shares involved: 18,887,359 and 3,000,000 Class V shares (total 21,887,359). Price reported: $0.00; total cash consideration: $0.
• Post-transaction holdings: not specified in the provided excerpt.
• Notable footnotes:
  • Class V shares represented voting, non‑economic interests and were cancelled on exercise of Exchange Rights (F1, F2).
  • The conversion resulted in receipt of Class A common stock or equivalent Common Units of Opportunity Financial (F2, F4, F6).
  • The reporting person is manager of the general partner of LTHS Capital Group LP and may be deemed to beneficially own securities held by that entity but disclaims beneficial ownership except for pecuniary interest (F5).
• Transaction codes: M = exercise/conversion of derivative; D = disposition to issuer. This was an exchange/cancellation transaction, not an open‑market sale.

Context
This was a derivative/exchange transaction (exercise of Exchange Rights) converting Class V voting, non‑economic shares into Class A shares or equivalent units and cancelling the Class V shares. Because the reported price is $0.00 and shares were cancelled or exchanged with the issuer, this is not a market sale and does not reflect an executed sale for cash. As a 10% owner and manager of related entities, this filing reflects structural ownership conversion rather than routine buying or selling in the open market.