Form 4: LendingClub CFO Andrew LaBenne Reports Stock Transfers as Gifts and UTMA Transfers
SEC Form 4 Filing
LendingClub's CFO, Andrew LaBenne, reported the transfer of LendingClub common stock as gifts and under the Uniform Transfer to Minors Act (UTMA) for his children.
Summary
- On February 3, 2025, Andrew LaBenne, the Chief Financial Officer of LendingClub Corp, reported transactions involving LendingClub common stock.
- He transferred 1,000 shares under the Uniform Transfer to Minors Act (UTMA) for two children.
- He also transferred 1,000 shares as a bona fide gift.
- These transactions did not represent a sale of shares.
- Following these transactions, LaBenne directly owns 151,128 shares and indirectly owns 10,000 shares through UTMA accounts for his children.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for company insiders to report changes in their beneficial ownership of company stock, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they represent personal transfers and gifts by the CFO.
Key Dates
| Date | Description |
|---|---|
| 02/03/2025 | Date of the stock transfer transactions. |
| 02/05/2025 | Date of signature for the Form 4 filing. |
Keywords
LendingClub, Andrew LaBenne, CFO, Form 4, Stock Transfer, UTMA, Gift, Beneficial Ownership
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