loanDepot settles with founder Hsieh, adds director Ozonian, avoids proxy contest

loanDepot, Inc.

Board temporarily expanded from 8 to 9; Steven Ozonian appointed immediately as independent director.
Ozonian, Andrew Dodson, and Pamela Hughes Patenaude nominated for election at 2023 annual meeting.
Hsieh withdrew his director nomination and agreed to standstill and voting support through 2024.
Company paid Hsieh $857,000 and entered a general release as part of the settlement.
Board to revert to 8 directors at 2024 annual meeting; Hsieh and Brian Golson to be nominated then.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Steven Ozonian

independent director

LDI · loanDepot, Inc.

Effective: 2023-04-04
Filed: April 5, 2023, 7:59 PM ET

On April 4, 2023, pursuant to the terms of the Cooperation Agreement, the Board appointed Mr. Ozonian as an independent director to the Board effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Steven Ozonian was appointed as independent director at loanDepot, Inc..

Action: appointed
Role: independent director

Exact text from the filing

On April 4, 2023, pursuant to the terms of the Cooperation Agreement, the Board appointed Mr. Ozonian as an independent director to the Board effective immediately.

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Source: SEC EDGAR

accession 0001831631-23-000100

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