Form 4: LendingClub Chief Risk Officer Annie Armstrong Reports Stock Transactions

Annie Armstrong, Chief Risk Officer of LendingClub, reports the vesting and subsequent tax withholding of shares related to restricted stock units (RSUs).

Summary

• On February 25, 2024, Annie Armstrong, the Chief Risk Officer of LendingClub, reported transactions involving LendingClub common stock and restricted stock units (RSUs).
• The transactions involved the vesting of RSUs and the subsequent withholding of shares by the issuer to cover tax obligations.
• Armstrong acquired 23,777, 5,488, 4,279 and 7,749 shares of common stock through the vesting of RSUs.
• A total of 22,953 shares were withheld by LendingClub at a price of $8.15 per share to cover tax obligations related to the vesting of the RSUs.
• Following these transactions, Armstrong directly owns 320,824 shares of LendingClub common stock.
• The RSUs vest in installments, typically quarterly, subject to continued service.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions, and carries a neutral sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in the company's financial position.

Key Dates