Annie Armstrong - May 25, 2022 Form 4 Insider Report for LendingClub Corp (LC)

Signature
/s/ Bhavit Sheth, attorney-in-fact
Stock symbol
LC
Transactions as of
May 25, 2022
Transactions value $
-$496,235
Form type
4
Date filed
5/27/2022, 07:16 PM
Previous filing
May 11, 2022
Next filing
Jun 10, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LC Common Stock Options Exercise $0 +23.8K +32.23% $0.00 97.5K May 25, 2022 Direct F1
transaction LC Common Stock Options Exercise $0 +36.1K +36.97% $0.00 134K May 25, 2022 Direct F1
transaction LC Common Stock Options Exercise $0 +5.49K +4.11% $0.00 139K May 25, 2022 Direct F1
transaction LC Common Stock Options Exercise $0 +4.28K +3.08% $0.00 143K May 25, 2022 Direct F1
transaction LC Common Stock Sale -$466K -33.1K -23.09% $14.07 110K May 26, 2022 Direct F2, F3
transaction LC Common Stock Sale -$30.4K -2.03K -1.84% $15.00 108K May 27, 2022 Direct F4

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 -23.8K -11.11% $0.00 190K May 25, 2022 Common Stock 23.8K $0.00 Direct F1, F5, F6
transaction LC Restricted Stock Unit (RSU) Options Exercise $0 -36.1K -25% $0.00 108K May 25, 2022 Common Stock 36.1K $0.00 Direct F1, F6, F7
transaction LC Restricted Stock Unit (RSU) Options Exercise $0 -5.49K -12.5% $0.00 38.4K May 25, 2022 Common Stock 5.49K $0.00 Direct F1, F6, F8
transaction LC Restricted Stock Unit (RSU) Options Exercise $0 -4.28K -8.33% $0.00 47.1K May 25, 2022 Common Stock 4.28K $0.00 Direct F1, F6, F9
* 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 $13.91 to $14.25. 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 This transaction was effected pursuant to a Rule 10b5-1 trading plan.
F5 The RSUs vested as to 25% of the total shares on May 25, 2021, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
F6 Not applicable.
F7 The RSUs vested as to 25% of the total shares on May 25, 2022, with an additional 25% of the total shares vesting quarterly thereafter, subject to continuous 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.
F9 The RSUs vested as to 8.33% of the total shares on May 25, 2022, with an additional 8.33% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.