Form 4: LendingClub CFO Sells Shares Under 10b5-1 Plan

LendingClub's Chief Financial Officer, Andrew LaBenne, sold 20,903 shares of common stock for diversification purposes under a pre-arranged 10b5-1 trading plan.

Summary

• Andrew LaBenne, Chief Financial Officer of LendingClub Corp (LC), reported a sale of common stock.
• The transaction involved 20,903 shares of common stock.
• The shares were sold at a weighted-average price of $17.0389 per share.
• The sale was executed on September 15, 2025.
• This transaction was conducted under a Rule 10b5-1 trading plan, established for asset diversification.
• Following this transaction, Mr. LaBenne directly beneficially owns 181,750 shares of common stock.
• Additionally, Mr. LaBenne indirectly beneficially owns 10,000 shares through two UTMA accounts for his children.
• The reported transaction, inclusive of previous sales under the plan, represents 6.3% of Mr. LaBenne's total equity interest in LendingClub as of March 31, 2025.

Sentiment

Score: 5

Explanation: The transaction is a pre-planned sale for diversification, which is a common and generally neutral event. While insider selling can sometimes be viewed negatively, the 10b5-1 plan mitigates this, and the percentage of total holdings sold is relatively small.

Positives

• The sale was conducted under a Rule 10b5-1 trading plan, indicating a pre-scheduled transaction for diversification rather than a reaction to immediate company news, which generally reduces the perception of opportunistic insider selling.

Negatives

• An insider sale, even if pre-planned, can sometimes be perceived negatively by the market as it reduces the insider's direct equity stake in the company.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

Management Comments

• This transaction was effected pursuant to a Rule 10b5-1 trading plan (the 'Plan') to diversify the assets of the Reporting Person.

Industry Context

This filing is a routine disclosure of an insider stock transaction and does not provide information related to broader industry trends or competitors.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure of an insider transaction and does not contain information suitable for comparison to industry benchmarks or specific comparable companies/projects.

Related Party Transactions

• The filing discloses indirect beneficial ownership of 10,000 shares held in two UTMA accounts for the Reporting Person's children.

Stakeholder Impact

• Shareholders: May view the insider sale with slight caution, though the 10b5-1 plan context generally alleviates concerns about opportunistic selling. The impact is likely minimal given the size relative to total holdings.
• Employees, Customers, Suppliers, Creditors: No direct impact from this insider transaction.

Key Dates

Keywords

LendingClub, LC, Andrew LaBenne, CFO, Form 4, Insider Trading, Stock Sale, 10b5-1 Plan, Diversification, Common Stock, Beneficial Ownership