I just went to renew our LEI, we have a holding company and shareholders. I am not understanding what they mean by ultimate parent/Direct Parent. Maybe I am thinking of it too much like Beneficial Owner. I asked them, no help. Anyone know what they are looking for?

Ultimate parent company would be the top company of your ownership chain. Direct parent would be the entity immediately above you in the chain. For example, our Mortgage Company is a wholly owned subsidiary of the our Bank. Our Bank is a wholly owned subsidiary of the Bank Holding Company. For the Mortgage Company's LEI application, the Bank would be the Direct Parent and the Bank Holding Company would be the Ultimate Parent.