LEPORE DAWN G 4
Research Summary
AI-generated summary
loanDepot (LDI) Director Dawn Lepore Converts 147,130 Class C to Class B
What Happened
- Dawn G. Lepore, a director of loanDepot, recorded a conversion of derivative securities on Feb 11, 2026: 147,130 shares reported as disposed and 147,130 shares reported as acquired, both at $0.00. The paired disposition/acquisition reflects an automatic conversion of the issuer's Class C Common Stock into Class B Common Stock as part of the issuer's corporate reorganization tied to its IPO.
Key Details
- Transaction date: 2026-02-11; report filed: 2026-02-13 (filed within the usual 2‑business‑day reporting window).
- Reported amounts: 147,130 shares disposed and 147,130 shares acquired; transaction price: $0.00 (non‑cash conversion).
- Transaction code: C (conversion of derivative/security).
- Shares owned after transaction: not specified in the excerpted filing.
- Footnote highlights:
- F1: Class C shares issued to LD Holdings unitholders automatically converted into Class B shares on Feb 11, 2026.
- F2: Lepore discloses an indirect interest in a portion of these securities through Trilogy Management Investors Six, LLC and disclaims beneficial ownership of other Trilogy Six holdings.
- F3: Class B shares may later be converted, together with corresponding LD Holdings Common Units, into Class A common stock on a one‑for‑one basis or redeemed for cash at the issuer's election.
Context
- This was an automatic, non‑cash conversion between share classes tied to the company's capitalization structure following its IPO—not a market buy or sale that signals a cash investment or divestment by the insider.
- Such conversions are administrative/corporate actions; they change the class of shares held and potential future conversion/redemption paths but do not by themselves indicate insider confidence or selling intent.