Grassi Joseph J III 4

What Happened Joseph J. Grassi III, Chief Risk Officer of loanDepot (LDI), had performance stock units (PSUs) vest/convert into 46,099 shares with an effective date of April 15, 2026 (settled April 16 due to processing). To satisfy tax withholding, 13,876 of those shares were surrendered at $1.55 per share, totaling $21,508. The filing shows the derivative conversion/exercise entries (code M) and the tax-withholding disposals (code F).

Key Details

• Transaction date: April 15, 2026 (PSUs vested on Apr 15; settled Apr 16 due to administrative delay). Form 4 filed Apr 17, 2026 (appears timely).
• Primary action: PSUs converted to 46,099 shares (derivative exercise/conversion, code M).
• Tax withholding: 13,876 shares withheld/ surrendered at $1.55 each, netting $21,508 to cover tax obligations (code F).
• Some filing lines show $0.00 for derivative disposals reflecting conversion/settlement mechanics, not a cash sale.
• Shares owned after the transaction are not specified in the provided extract.
• Footnotes: RSUs/PSUs convert to one share each; remaining RSUs/PSUs scheduled to vest on Apr 15, 2027. The PSUs granted Apr 15, 2024 vest upon achievement of specified performance (one fiscal quarter of positive adjusted net income).

Context This was a conversion/settlement of equity awards (performance-based units) with a portion withheld to cover taxes — a routine administrative step rather than an open-market sale or purchase. For retail investors, note this is an insider receiving vested awards (not a cash purchase); withheld shares for taxes are common and don't necessarily signal confidence or concern about the stock.