Fergal Stack - 25 Feb 2022 Form 4 Insider Report for LendingClub Corp (LC)

Role
SVP, Corporate Controller
Signature
/s/ Bhavit Sheth, attorney-in-fact
Issuer symbol
LC
Transactions as of
25 Feb 2022
Net transactions value
-$113,862
Form type
4
Filing time
01 Mar 2022, 18:43:58 UTC
Previous filing
29 Nov 2021
Next filing
15 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LC Common Stock Options Exercise $0 +3,546 +3.3% $0.000000 112,041 25 Feb 2022 Direct F1
transaction LC Common Stock Options Exercise $0 +2,397 +2.1% $0.000000 114,438 25 Feb 2022 Direct F1
transaction LC Common Stock Options Exercise $0 +5,099 +4.5% $0.000000 119,537 25 Feb 2022 Direct F1
transaction LC Common Stock Options Exercise $0 +4,442 +3.7% $0.000000 123,979 25 Feb 2022 Direct F1
transaction LC Common Stock Sale $113,862 -6,127 -4.9% $18.58 117,852 28 Feb 2022 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LC Restricted Stock Unit (RSU) Options Exercise $0 -3,546 -100% $0.000000* 0 25 Feb 2022 Common Stock 3,546 $0.000000 Direct F1, F4, F5
transaction LC Restricted Stock Unit (RSU) Options Exercise $0 -2,397 -20% $0.000000 9,585 25 Feb 2022 Common Stock 2,397 $0.000000 Direct F1, F5, F6
transaction LC Restricted Stock Unit (RSU) Options Exercise $0 -5,099 -11% $0.000000 40,787 25 Feb 2022 Common Stock 5,099 $0.000000 Direct F1, F5, F7
transaction LC Restricted Stock Unit (RSU) Options Exercise $0 -4,442 -11% $0.000000 35,536 25 Feb 2022 Common Stock 4,442 $0.000000 Direct F1, F5, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.
F2 Represents the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. This sale is mandated by the Issuer's election under its 2014 Equity Incentive Plan to require the satisfaction of tax withholding obligations with respect to the Reporting Person to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.
F3 This transaction was executed in multiple trades during the day at prices ranging from $18.24 to $19.04. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
F4 The RSUs vested as to 6.25% of the total shares on May 25, 2018, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
F5 Not applicable.
F6 The RSUs vested as to 6.25% of the total shares on May 25, 2019, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
F7 The RSUs vested as to 6.25% of the total shares on May 25, 2020, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
F8 The RSUs vested as to 8.33% of the total shares on May 25, 2021, with an additional 8.33% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.