Grassi Joseph J III 4

What Happened

• Joseph J. Grassi III, Chief Risk Officer of loanDepot (LDI), had restricted stock units (RSUs) vest and be settled and also received new RSU awards. The filing shows acquisitions of 306,603 and 102,201 RSU-related derivative units (awards) and the conversion/exercise of 118,613 derivative units into shares. To cover tax withholding, 38,929 shares were surrendered at $1.56 each, totaling $60,729. The awards/conversions are reported as $0 cash consideration because they are equity-compensation/derivative settlements.

Key Details

• Transaction date(s): vesting/settlement on Mar 16, 2026 (RSUs vested Mar 14, 2026 and were settled Mar 16, per footnote).
• Filing date: Form 4 filed Mar 18, 2026 (reporting period Mar 16, 2026).
• Specifics reported:
  • Acquired (award): 306,603 RSU units (derivative, $0 reported)
  • Acquired (award): 102,201 RSU units (derivative, $0 reported)
  • Exercise/conversion (derivative): 118,613 units converted/settled into shares
  • Tax withholding (payment): 38,929 shares withheld/disposed at $1.56/share = $60,729
• Shares beneficially owned after the transactions: not specified in the filing.
• Footnotes of note:
  • F1: RSUs vested Mar 14 and were settled Mar 16.
  • F2/F3: Time-based RSUs vest in three equal annual installments (starting Mar 14, 2026 and Mar 16, 2027, respectively).
  • F4: Performance RSUs vest only if specified share-price targets are met.
• Filing timeliness: no late filing flag indicated.

Context

• These entries reflect compensation-related equity activity (vesting/awards and derivative conversions), not open-market buys or sales. The 38,929-share disposition was a tax-withholding action (common when RSUs settle), not a market sale that would signal a liquidity decision. Performance RSUs only convert to shares if stock-price conditions are met, so those units may not result in future shares unless targets are achieved.