Form 4: LendingClub CFO Andrew LaBenne Reports Stock Transactions
SEC Form 4
Andrew LaBenne, CFO of LendingClub, reports the vesting and tax withholding of restricted stock units (RSUs) and adjustments to his holdings of common stock.
Summary
- On August 25, 2024, Andrew LaBenne, the CFO of LendingClub, reported several transactions involving LendingClub's common stock and restricted stock units (RSUs).
- These transactions include the vesting of RSUs, which converted into common stock, and the subsequent withholding of shares to cover tax obligations.
- LaBenne also reported holdings of common stock in UTMA accounts for his children.
- Following these transactions, LaBenne directly owns 133,225 shares of LendingClub common stock and indirectly owns 12,000 shares through UTMA accounts.
- He also holds 122,741 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions by a company insider. It doesn't inherently indicate 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 investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- The transactions have a minimal impact on employees, customers, suppliers, and creditors.
Key Dates
| Date | Description |
|---|---|
| 08/25/2023 | Initial vesting date for 33.33% of one set of RSUs, with additional vesting quarterly thereafter. |
| 05/25/2023 | Initial vesting date for 8.33% of one set of RSUs, with additional vesting quarterly thereafter. |
| 05/25/2024 | Initial vesting date for 8.33% of one set of RSUs, with additional vesting quarterly thereafter. |
| 08/25/2024 | Date of transactions reported in the Form 4 filing, including RSU vesting and tax withholding. |
| 08/28/2024 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.