# EDGAR Filing Document

**Accession Number:** 0001655400
**File Stem:** 0001552781-23-000044
**Filing Date:** 2023-2
**Character Count:** 23580
**Document Hash:** 7b99b55338edac35a01865aff9fa9b6c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001552781-23-000044.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001552781-23-000044

**CONFORMED SUBMISSION TYPE**: SC 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** loanDepot, Inc.
- **CENTRAL INDEX KEY:** 0001831631
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **IRS NUMBER:** 853948939
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93052
- **FILM NUMBER:** 23596068

**BUSINESS ADDRESS:**
- **STREET 1:** 6561 IRVINE CENTER DRIVE
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** (949) 434-5964

**MAIL ADDRESS:**
- **STREET 1:** 6561 IRVINE CENTER DRIVE
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hsieh Anthony Li
- **CENTRAL INDEX KEY:** 0001655400

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A

**MAIL ADDRESS:**
- **STREET 1:** C/O LOANDEPOT,  26642 TOWNE CENTRE DRIVE
- **CITY:** FOOTHILL RANCH
- **STATE:** CA
- **ZIP:** 92610

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE 13D**

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO <br> § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13d-2(a)

**Under the Securities Exchange Act of 1934 (Amendment No. 4)**

---

| |
|:---|
| loanDepot, Inc. |
| (Name of Issuer) |
| Class A Common Stock |
| (Title of Class of Securities) |
| 53946R106 |
| (CUSIP Number) |
| Anthony Hsieh |
| 6561 Irvine Center Drive |
| Irvine, California 92618 |
| 202-662-6000 |
| Frank M. Conner, III |
| Michael P. Reed |
| Charlotte May |
| Covington & Burling LLP |
| One CityCenter |
| 850 Tenth Street, NW |
| Washington, DC 20001 |
| 202-662-6000 |
| (Name, Address and Telephone Number of Person<br> Authorized to Receive Notices and Communications) |
| February 7, 2023 |
| (Date of Event Which Requires Filing of this Statement) |

---

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. □

**Note**: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("<u>Act</u>") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

---

| | | |
|:---|:---|:---|
| CUSIP No. 53946R106 | CUSIP No. 53946R106 | CUSIP No. 53946R106 |
| 1. | Names of Reporting Persons<br>Anthony Hsieh | Names of Reporting Persons<br>Anthony Hsieh |
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) | Check the Appropriate Box if a Member of a Group (See Instructions) |
| (a) |  | □ |
| (b) |  | □ |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Source of Funds (See Instructions)<br> PF | Source of Funds (See Instructions)<br> PF |
| 5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) □ | Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) □ |
| 6. | Citizenship or Place of Organization<br> United States | Citizenship or Place of Organization<br> United States |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 7. | Sole Voting Power<br> 4,244,205 |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With |  |  |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 8. | Shared Voting Power<br> 147,657,247 |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With |  |  |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 9. | Sole Dispositive Power<br> 4,244,205 |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With |  |  |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 10. | Shared Dispositive Power<br> 147,657,247 |
| 11. | Aggregate Amount Beneficially Owned by Each Reporting Person<br> 151,901,452 | Aggregate Amount Beneficially Owned by Each Reporting Person<br> 151,901,452 |
| 12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) □ | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) □ |
| 13. | Percent of Class Represented by Amount in Row (11)<br> 68.9<sup>1,2</sup> | Percent of Class Represented by Amount in Row (11)<br> 68.9<sup>1,2</sup> |
| 14. | Type of Reporting Person (See Instructions)<br> IN | Type of Reporting Person (See Instructions)<br> IN |

---

<sup>1</sup> Calculated in accordance with the SEC's rules for calculating "beneficial ownership," which requires the Reporting Person to assume conversion of all of such person's Class C Common Stock but conversion of no other Class C Common Stock.

<sup>2</sup> Based on 72,888,197 shares of the Issuer's Class A Common Stock outstanding on January 9, 2023 as provided by the Issuer in connection with the Reporting Person's Schedule 13D/A filed with the SEC on January 10, 2023.

**Explanatory Note**

This Amendment No. 4 ("<u>Amendment No. 4</u>") to Schedule 13D (this "<u>Schedule 13D</u>") is filed by Anthony Hsieh (the "<u>Reporting Person</u>") and relates to the beneficial ownership of certain shares of Class A Common Stock, par value $0.001 per share (the "<u>Class A Common Stock</u>"), of loanDepot, Inc., a Delaware corporation ("<u>loanDepot</u>" or the "<u>Issuer</u>"). Amendment No. 4 amends the initial statement on Schedule 13D filed by the Reporting Person on November 16, 2021, as amended on April 26, 2022, May 6, 2022 and January 10, 2023 (as amended prior to the date hereof, the "<u>Original Filing</u>," and as amended by this Amendment No. 4, the "<u>Statement</u>") and is being filed to describe a letter delivered to the Issuer by the Reporting Person on February 7, 2023. Except as specifically provided herein, this Amendment No. 4 does not modify any of the information previously reported in the Original Filing. Capitalized terms used but not defined have the meaning given them in the Original Filing.

**Item 4. Purpose of Transaction**

The penultimate paragraph of Item 4 of the Original Filing is hereby deleted and amended and restated as set forth below:

As previously disclosed, as a result of the Reporting Person's ownership and control of the shares described herein, the Reporting Person is in a position to control the outcome of certain matters submitted to the holders of Class A Common Stock of the Issuer or within the powers of the holders of Class A Common Stock of the Issuer, including, but not limited to, the nomination and election of directors, charter and bylaw amendments, and mergers and other business combinations. Subject to the fiduciary responsibilities of the directors to the Issuer, the Reporting Person, through his ability to control the outcome of any election of directors, is able to direct management policy, strategic direction and financial decisions of the Issuer. Depending on market conditions and other factors (including evaluation of the Issuer's businesses and prospects, availability of funds, alternative uses of funds and general economic conditions), the Reporting Person may from time to time acquire additional securities of the Issuer or dispose of all or a portion of the investment in the Issuer. The Reporting Person reserves the right to, and may in the future choose to, change his purpose with respect to his investment and intends to use his position as a stockholder and director to influence the operations, business and management of the Issuer and to take such actions as he deems appropriate in light of the circumstances.

On February 7, 2023, the Reporting Person delivered a letter to the Issuer (the "<u>Nomination Letter</u>"), dated February 7, 2023, nominating Steve Ozonian (the "<u>Nominee</u>"), for election to the Issuer's Board of Directors (the "<u>Board</u>") at the Issuer's 2023 annual meeting of stockholders, or any other meeting of stockholders held in lieu thereof, together with any adjournments, recesses, postponements, reschedulings or continuations thereof (the "<u>Annual Meeting</u>"). As evidenced by his detailed biography below, the Nominee has deep knowledge and experience with the consumer fintech and real estate industries. The Reporting Person believes that the Nominee would be independent under all applicable standards and that the Nominee's experience and perspective will be additive to the Board at this critical juncture for the Issuer.

On February 7, 2023, the Reporting Person furnished a letter to Issuer stockholders ("<u>Stockholder Letter</u>"), explaining, among other things, that as the founder and largest voting stockholder of the Issuer, he has nominated a highly accomplished and independent Nominee for election to the Board at the Annual Meeting and the Reporting Person's belief that the Nominee's experience with consumer fintech and real estate leadership will be crucial to assisting the Issuer in overcoming the challenges the Issuer now faces. The full text of the letter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

**Steve Ozonian**, 67, currently serves and has served as CEO of the Williston Financial Group ("<u>Williston</u>") since August 2017 and currently serves and has served on Williston's Board of Directors since 2011. Mr. Ozonian currently serves and has served on the Board of Directors of LendingTree, Inc. (Nasdaq: TREE) ("<u>LendingTree</u>") since 2011 and previously served on the LendingTree Board of Directors from August 2008 to November 2010. Mr. Ozonian currently serves as the Lead Independent Director, Chair of the Audit Committee and Chair of the Compensation Committee of LendingTree. Mr. Ozonian previously served as Chief Executive Officer of LendingTree's proprietary full service real estate brokerage business, known as RealEstate.com, between November 2010 and March 2011. Mr. Ozonian previously served as the Chairman of the Board of Directors of Global Mobility Solutions, a global provider of human resources and real estate services. Mr. Ozonian has held other high-level positions in the homeownership industry including Chairman and CEO of Prudential's real estate and related businesses, CEO of Realtor.com and National Homeownership Executive for Bank of America. Mr. Ozonian is a member of the Board of Directors of Attom Data, a real estate data services company. Mr. Ozonian is also a member of the Board of Directors of Inside Real Estate, a real estate software services provider to the residential real estate industry.

The Reporting Person has engaged, and intends to continue to engage, in discussions with management and the Board of the Issuer regarding Board representation and the composition of the Issuer's Board, generally.

**Item 5. Interest in Securities of the Issuer**

(a), (b) The information relating to the beneficial ownership of the Class A Common Stock by the Reporting Person set forth in Rows 7 through 13 of the cover page hereto and the related footnotes are incorporated by reference herein and is as of the date hereof. Such information assumes there are 72,888,197 shares of the Issuer's Class A Common Stock outstanding on January 9, 2023 as provided by the Issuer in connection with the Reporting Person's Schedule 13D/A filed with the SEC on January 10, 2023. The Reporting Person also owns 92,644 unvested restricted stock units of the Company. By virtue of the relationship among the Reporting Person and the Class C Stockholders described in Item 2, the Reporting Person may be deemed to share the power to vote or direct the vote and to share the power to dispose of or direct the disposition of the shares of Class A Common Stock as set forth in rows 7 through 13 of the cover pages of this Statement. The filing of this Statement shall not be construed as an admission that such individual is, for the purpose of Section 13(d) or 13(g) of the Exchange Act, the beneficial owner of any securities covered by this Statement. Certain of the shares obtainable upon exchange of Class C Common Stock are required to be delivered to third parties and would not be retained by the Reporting Person upon exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No transactions in the Class A Shares were effected by the Reporting Person since the Reporting Person's most recent filing on Schedule 13D.

**Item 7. Material to be Filed as Exhibits**

99.1 Letter from Anthony Hsieh to stockholders of loanDepot, Inc.

**SIGNATURES**

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this amendment is true, complete and correct.

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| | |
|:---|:---|
| Anthony Li Hsieh | Anthony Li Hsieh |
| By: | /s/ Anthony Li Hsieh |

---

Dated: February 7, 2023

**SCHEDULE 13D**

**INDEX TO EXHIBITS**

99.1 [Letter from Anthony Hsieh to stockholders of loanDepot, Inc.](e23054_ex99-1.htm)

## Exhibit 99.1

**Exhibit 99.1**

Anthony

Hsieh

Dear Fellow loanDepot Stockholders:

As the founder and largest voting stockholder of loanDepot, Inc. (NYSE: LDI), on February 7, 2023, I nominated Steve Ozonian, a highly accomplished, independent real estate executive, for election to the Board of Directors of the Company at the Company's upcoming 2023 Annual Meeting of stockholders.

This is not a decision I came to lightly. The past year has been difficult. In the face of challenge, I firmly believe it is important to seek out fresh perspectives. As leaders of this Company and stewards of stockholder capital, the Board must always challenge itself to be a dynamic center of passionate, informed and relevant perspectives to help guide the Company to future success.

Mr. Ozonian's experience and perspective will be additive to the loanDepot Board of Directors at this critical juncture for the Company. The recent rise in rates and challenging macroeconomic environment make Mr. Ozonian's potential appointment all the more urgent.

I had hoped that the Board of Directors as a whole would support Mr. Ozonian's nomination and acknowledge what I view as an urgent need for board refreshment. I have sought to engage with the Board to consider Mr. Ozonian and the need for refreshment over the past few months but there has been no appetite for meaningful discussions. Instead, I have only seen signals that leave me very concerned that the scourge of board entrenchment is taking hold. The Board's recent decision to create a committee that excludes me and my director designee — in order to contest Mr. Ozonian's nomination — only accentuates this concern, as does its decision that I should no longer serve as Executive Chairman.

As the largest single stockholder of the Company, I have an obligation to act. Holding over a 40% economic interest, I have a clear incentive to see the Company succeed and am aligned with stockholders in pursuing the objective of creating long-term value. I believe my fellow stockholders will see Mr. Ozonian's experience with consumer fintech and real estate leadership as crucial to navigating the challenges the current market presents loanDepot. I have come to know Mr. Ozonian professionally over the years and have great respect for his accomplishments in – and deep knowledge of – the real estate and consumer fintech industries. We are not affiliated in any way, and he qualifies as an independent director under all applicable standards. There are no agreements between us as to how he would address any issue that would come before the Board. My objective in nominating him is for the Company to have the benefit of his remarkable experience to help position the Company to succeed in its current operating environment. I beneficially own an aggregate of approximately 57.3% of the combined voting power of the Company's outstanding common stock. I intend to vote all shares of common stock that I beneficially own in favor of Mr. Ozonian.

Since my founding of the Company in 2010, it has been our goal to deliver the American Dream of home ownership to individuals and families across the nation. We have always believed that online demand for mortgage products and services was going to grow as millennials purchased their first homes, and we believed the market would gravitate to originators with a recognizable brand that could deliver seamless experiences on par with emerging and best-in-class digital technologies. As a result of our dedication to this vision and a relentless commitment to thinking and doing differently to maximize innovation, we have built a company that harnesses technology and data to serve our customers throughout the entire loan transaction in a way that is personalized, convenient, and fast. I am very proud of what this Company has accomplished. However, like most mortgage businesses, we face significant challenges in the current interest rate and operating environment.

I have worked to convey the challenges on the horizon to the Board for months, but my pushes to bring fresh perspectives and additive skillsets to the Board have been unsuccessful. As I have told the Board, for us to overcome the current challenges and continue to provide exceptional service to our customers and value to our stockholders, we will need to continue to innovate. Having Mr. Ozonian on our Board helps us do just that.

There are currently eight directors serving on the Board, only two of whom have terms expiring at the Annual Meeting. When I raised the idea of adding Mr. Ozonian to the Board, I suggested that the Board consider replacing one of its directors who is not up for election this year with Mr. Ozonian. My understanding is that certain members of the Board do not wish to do so. I also understand that certain members of the Board intend to nominate the two incumbent directors whose terms expire at this year's Annual Meeting, Andrew Dodson and Pamela Hughes Patenaude, for re-election at the 2023 Annual Meeting.

Mr. Dodson is a representative of Parthenon Capital, LLC. Per a stockholders agreement, I have previously committed to vote for the election as director of the Company the representative of Parthenon, and I intend to honor that commitment. Given the voting power I have, my commitment to vote for Andrew Dodson will result in his election at the Annual Meeting. Therefore, unless the Nominating and Governance Committee demonstrates willingness to consider alternative options of adding Mr. Ozonian to the Board, my nomination of Mr. Ozonian will, by default, result in a challenge to the re-election of Ms. Patenaude. My decision to nominate Mr. Ozonian is not intended to target Ms. Patenaude personally, nor is it a negative reflection on the current management team and the wonderful people of loanDepot. It is simply a reflection of the urgency I believe is necessary to address the Company's challenges by appointing a director with significant and relevant operating experience.

As I have stated, I have significant economic interest in the long-term performance of loanDepot. I do not take this decision lightly. I remain hopeful that the Board will change its position and seek to engage constructively with me regarding the potential appointment of Mr. Ozonian. I founded this Company with a passion for delivering the American Dream of home ownership to individuals and families across the nation. That passion still burns just as bright, if not brighter, today. My interests and motivation behind this decision are those of a founder and long-term stockholder of loanDepot who wants to see the Company reach its full potential.

---

| |
|:---|
| Thank you for your support, |
| /s/ Anthony Hsieh |
| Anthony Hsieh |

---

**Biography of Steve Ozonian**

Steve Ozonian, 67, currently serves and has served as CEO of the Williston Financial Group since August 2017 and currently serves and has served on Williston's Board of Directors since 2011. Mr. Ozonian currently serves and has served on the Board of Directors of LendingTree, Inc. since 2011 and previously served on the LendingTree Board of Directors from August 2008 to November 2010. Mr. Ozonian currently serves as the Lead Independent Director, Chair of the Audit Committee, and Chair of the Compensation Committee of LendingTree. Mr. Ozonian previously served as Chief Executive Officer of LendingTree's proprietary full service real estate brokerage business, known as RealEstate.com, between November 2010 and March 2011. Mr. Ozonian also previously served as the Chairman of the Board of Directors of Global Mobility Solutions, a global provider of human resources and real estate services. Mr. Ozonian has held other high-level positions in the homeownership industry including Chairman and CEO of Prudential's real estate and related businesses, CEO of Realtor.com, and National Homeownership Executive for Bank of America. Mr. Ozonian is a member of the Board of Directors of Attom Data, a real estate data services company. Mr. Ozonian is also a member of the Board of Directors of Inside Real Estate, a real estate software services provider to the residential real estate industry.

**CERTAIN INFORMATION CONCERNING THE PARTICIPANTS**

Anthony Hsieh (the "Investor"), may file a preliminary and definitive proxy statement and accompanying proxy card with the U.S. Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of the Investor's director nominee at the 2023 annual meeting of stockholders of loanDepot, Inc., a Delaware corporation (the "Company").

THE INVESTOR STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PRELIMINARY AND THE DEFINITIVE PROXY STATEMENTS AND OTHER PROXY MATERIALS IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENTS AND OTHER PROXY MATERIALS WITHOUT CHARGE, IF AND WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR.

The participants in the proxy solicitation are anticipated to be Anthony Hsieh and Steven Ozonian.

As of the date hereof, Anthony Hsieh beneficially owns 4,244,205 shares of Class A Common Stock, par value $0.001 per share, of the Company. The Investor also beneficially owns 147,657,247 shares of Class C Common Stock, par value $0.001 per share, of the Company. As of the date hereof, Steve Ozonian does not own any shares of common stock or any other securities of the Company.