Form 4: LendingClub CEO Increases Stake via RSU Vesting

LendingClub CEO Scott Sanborn increased his direct beneficial ownership by 16,895 shares following the vesting of restricted stock units and subsequent tax withholding.

Summary

• Scott Sanborn, CEO and Director of LendingClub Corp (LC), reported changes in his beneficial ownership on November 25, 2025.
• Mr. Sanborn acquired a total of 36,140 shares of Common Stock through the vesting of Restricted Stock Units (RSUs).
• Concurrently, 19,245 shares were disposed of to cover tax withholding obligations related to the RSU vesting, at a price of $16.8 per share.
• Following these transactions, Mr. Sanborn's direct beneficial ownership of LendingClub Corp Common Stock increased by a net of 16,895 shares.
• His total direct beneficial ownership now stands at 1,226,965 shares.
• The RSUs vested according to pre-defined schedules, with initial vesting dates on May 25, 2023, May 25, 2024, and May 25, 2025, and subsequent quarterly vesting.

Sentiment

Score: 7

Explanation: The net increase in the CEO's direct beneficial ownership through RSU vesting is generally a positive signal, indicating continued alignment of management's interests with shareholders. The disposition of shares for tax withholding is a routine and expected event associated with equity compensation.

Positives

• CEO Scott Sanborn's direct beneficial ownership of LendingClub Corp Common Stock increased by a net of 16,895 shares, demonstrating continued alignment with shareholder interests.

Negatives

• 19,245 shares were disposed of to cover tax withholding obligations, representing a reduction in shares held, although this is a common practice for RSU vesting.

Future Outlook

No specific forward-looking statements or guidance are provided in this Form 4 filing, which primarily reports past insider transactions. However, the RSU vesting schedules indicate future share acquisitions for the reporting person, subject to continued service.

Industry Context

This Form 4 filing details a routine insider transaction involving the vesting of Restricted Stock Units (RSUs) and subsequent tax withholding. Such transactions are common compensation practices across various industries, particularly in technology and financial services, and reflect standard equity incentive plans designed to align executive interests with long-term company performance. It does not provide information on broader industry trends or competitive landscape.

Comparison to Industry Standards

• The RSU vesting and tax withholding reported are standard practices for executive compensation in publicly traded companies.
• The disposition of shares to cover tax obligations (known as 'sell to cover') is a common method for insiders to manage tax liabilities arising from equity awards, aligning with typical industry compensation structures.
• No specific comparable companies, projects, or results are mentioned in the filing to allow for a detailed comparative assessment.

Related Party Transactions

• The RSU vesting and subsequent share transactions are part of the reporting person's compensation package as an executive and director, which is a standard form of related party dealing in the context of executive compensation.

Stakeholder Impact

• Shareholders may view the net increase in the CEO's beneficial ownership positively, as it suggests continued commitment and alignment of interests between management and the company's equity holders.

Next Steps

• Continued quarterly vesting of Restricted Stock Units for Scott Sanborn, subject to his continued service.

Key Dates

Keywords

LendingClub, LC, Scott Sanborn, Form 4, insider trading, RSU, restricted stock unit, beneficial ownership, CEO, director, stock vesting, tax withholding