Form 4: LendingClub CFO Andrew LaBenne Reports Stock Transactions
SEC Form 4
Andrew LaBenne, CFO of LendingClub, reports the vesting and disposal of restricted stock units (RSUs) to cover tax obligations.
Summary
- On February 25, 2024, Andrew LaBenne, the Chief Financial Officer of LendingClub Corp, engaged in transactions involving LendingClub's common stock and Restricted Stock Units (RSUs).
- LaBenne acquired 20,004 shares and 10,848 shares of common stock through the vesting of RSUs at a price of $0.
- Simultaneously, 16,617 shares were disposed of to cover tax withholding obligations at a price of $8.15 per share.
- Following these transactions, LaBenne directly owns 91,417 shares of LendingClub's common stock.
- He also indirectly owns 12,000 shares through UTMA accounts for his children.
- LaBenne directly owns 120,028 and 86,788 derivative securities in the form of Restricted Stock Units (RSUs).
Sentiment
Score: 5
Explanation: This is a routine filing reflecting standard compensation practices; neither particularly positive nor negative.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they relate to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/25/2024 | Date of stock and RSU transactions |
| 02/27/2024 | Date of signature by attorney-in-fact |
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