DerGurahian Jeffrey Michael 4
4 · loanDepot, Inc. · Filed Feb 13, 2026
Research Summary
AI-generated summary of this filing
loanDepot (LDI) CIO Jeffrey DerGurahian Converts Derivative to Shares
What Happened
- Jeffrey Michael DerGurahian, Chief Investment Officer of loanDepot, recorded a conversion of 1,598,390 shares of Class C Common Stock into Class B Common Stock on February 11, 2026. The Form 4 shows matching "disposed" and "acquired" entries for 1,598,390 shares at $0.00, reflecting an automatic, non-cash corporate reclassification rather than a market buy or sale.
Key Details
- Transaction date: February 11, 2026. Report filed: February 13, 2026 (timely).
- Reported amounts: 1,598,390 shares converted; price per share recorded $0.00; total reported value $0.
- Shares owned after transaction: not specified in the filing.
- Notable footnotes: (F1) Class C shares automatically converted into Class B shares under the company's charter on Feb 11, 2026; (F2–F3) the reporting person discloses only an indirect interest via Trilogy Management Investors Seven, LLC and corrected prior reporting; (F4) Class B shares may be exchanged, together with corresponding LD Holdings Common Units, for Class A shares or cash under certain redemption provisions.
- Filing timeliness: The Form 4 was filed within the routine SEC timeframe (no late filing indicated).
Context
- This was a structural conversion of share classes tied to prior LD Holdings/IPO reorganization terms, not an insider purchase or open‑market sale. Such conversions are administrative and do not directly signal a buy or sell intent. The filing also notes the insider's indirect interest via an investment vehicle (Trilogy Seven) and clarifies prior reporting methodology and entity attribution.
Insider Transaction Report
Form 4
DerGurahian Jeffrey Michael
Chief Investment Officer
Transactions
- Conversion
Class C Common Stock
[F1][F2][F3]2026-02-11−1,598,390→ 0 total(indirect: By LLC) - Conversion
Class B Common Stock
[F1][F2]2026-02-11+1,598,390→ 1,598,390 total(indirect: By LLC)
Holdings
- 1,598,390(indirect: By LLC)
Common Units
[F1][F4][F2][F3]→ Class A Common Stock (1,598,390 underlying)
Footnotes (4)
- [F1]In the reorganization transactions related to Issuer's IPO, shares of Issuer's Class C Common Stock, par value $0.001 ("Class C Common Stock"), were issued to certain holders of LD Holdings Group LLC ("LD Holdings") Class A Common Units ("Common Units") equal to the number of Common Units held by such holders. Pursuant to the Issuer's Amended and Restated Certificate of Incorporation, dated February 11, 2021, each outstanding share of Class C Common Stock, automatically and without further action on the part of the Issuer or the Reporting Person, converted into one fully paid and non-assessable share of Class B Common Stock, par value $0.001 ("Class B Common Stock"), on February 11, 2026. Shares of Class B Common Stock may be converted, together with the corresponding Common Units, for shares of the Issuer's Class A Common Stock, par value $0.001 ("Class A Common Stock") as described in footnote 2.
- [F2]The Reporting Person has an indirect interest in a portion of the securities of the Class B Common Stock and the Common Units held by Trilogy Management Investors Seven, LLC ("Trilogy Seven"). The Reporting Person is disclosing only his indirect interest in these securities and disclaims beneficial ownership of all other securities held by Trilogy Seven.
- [F3]The reported shares of Class C Common Stock were previously reported by Trilogy Seven through its manager, Anthony Hsieh. In a Form 4 filed on July 25, 2024, Anthony Hsieh changed his reporting methodology. In addition, the Reporting Person previously reported all of the Common Units held by Trilogy Seven. The Reporting Person is now only reporting his interests in Trilogy Seven. Further, the reported shares and units were previously incorrectly reported as having been indirectly owned by the reporting person through Trilogy Management Investors Six, LLC instead of through Trilogy Seven.
- [F4]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 B 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 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.
Signature
/s/ Greg Smith, as Attorney-in-Fact for Jeffrey Michael DerGurahian|2026-02-13