Form 4: LendingClub Corp: SVP, Corporate Controller Fergal Stack Reports Stock Transactions
SEC Form 4 Filing
Fergal Stack, SVP, Corporate Controller at LendingClub Corp, reports the vesting and subsequent holding of restricted stock units (RSUs) and shares to cover tax obligations.
Summary
- On May 25, 2024, Fergal Stack, SVP, Corporate Controller at LendingClub Corp, reported transactions involving common stock and restricted stock units (RSUs).
- Stack acquired 3,118, 5,646, and 3,117 shares of common stock through the vesting of RSUs at a price of $0 per share.
- He also had 4,676 shares withheld by the Issuer to cover tax obligations related to the vesting of RSUs at $9.02 per share.
- Following these transactions, Stack beneficially owns 215,204 shares of LendingClub Corp common stock directly, as well as 34,290, 39,520 and 9,353 Restricted Stock Units.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and stock ownership. It doesn't contain information that would significantly impact investor sentiment.
Industry Context
Form 4 filings are standard practice for reporting insider transactions and are publicly available to provide transparency regarding the trading activities of company executives and directors.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 05/25/2022 | Initial vesting date for 8.33% of one set of RSUs, with subsequent quarterly vesting. |
| 05/25/2023 | Initial vesting date for 8.33% of another set of RSUs, with subsequent quarterly vesting. |
| 05/25/2024 | Date of the reported transactions: vesting of RSUs and tax withholding. |
| 05/29/2024 | Date of signature for the Form 4 filing. |
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