Form 4: LendingClub CFO Andrew LaBenne Reports Stock Transactions

Andrew LaBenne, CFO of LendingClub, reports the vesting and subsequent withholding of shares for tax obligations related to restricted stock units (RSUs).

Summary

• On February 25, 2025, Andrew LaBenne, the CFO of LendingClub, reported transactions involving LendingClub's common stock and restricted stock units (RSUs).
• These transactions included the vesting of RSUs and the subsequent withholding of shares by the issuer to cover tax obligations.
• LaBenne also reported owning 10,000 shares of LendingClub's common stock indirectly through UTMA accounts for his children.
• Following these transactions, LaBenne directly owns 171,522 shares of common stock and indirectly owns 10,000 shares.
• He also owns 40,010 RSUs from one grant, 43,394 RSUs from another grant, and 98,193 RSUs from a third grant.

Sentiment

Score: 5

Explanation: This is a neutral filing of stock transactions, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to the market.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for corporate insiders in the US, ensuring transparency in stock transactions.
• Similar filings are made by executives at companies like Upstart and SoFi, which are also in the fintech lending space, to report their stock transactions.

Stakeholder Impact

• The transactions reported in this filing provide transparency to shareholders regarding the CFO's stock ownership.
• The withholding of shares for tax obligations has no direct impact on employees, customers, suppliers, or creditors.

Key Dates