LendingClub counsel exercises RSUs, covers taxes in stock
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Form Type
4
Rhea-AI Filing Summary
LendingClub Corp General Counsel & Secretary Jordan Cheng reported routine equity compensation activity. On May 25, 2026, Cheng exercised restricted stock units that delivered 12,115 shares of common stock. The company withheld 5,480 shares at $15.63 per share to cover tax obligations, which was not an open-market sale.
After these transactions, Cheng directly holds 118,167 shares of common stock and 17,184 RSUs that continue to vest quarterly in 8.33% increments, subject to continued service.
Insider Trade Summary
12,115 shares exercised/converted
Exercise
7 txns
Insider
Cheng Jordan
Role
General Counsel & Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit (RSU) | 5,728 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit (RSU) | 3,504 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit (RSU) | 2,883 | $0.00 | $0.00 |
| Exercise | Common Stock | 5,728 | $0.00 | $0.00 |
| Exercise | Common Stock | 3,504 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,883 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 5,480 | $15.63 | $86K |
Holdings After Transaction:
Restricted Stock Unit (RSU) — 73,435 units (Direct);
Common Stock — 119,074 shares (Direct)
Holdings Before and After:
Restricted Stock Unit (RSU), 85,550 to 73,435 units (Direct);
Common Stock, 112,439 to 119,074 shares (Direct)
Footnotes (6)
- F1. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.
- F2. Does not represent a sale of shares. Represents the number of shares withheld by the Issuer to cover tax withholding obligations in connection with the vesting of RSUs.
- F3. The RSUs vested as to 8.33% of the total shares on May 25, 2024, with an additional 8.33% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
- F4. Not applicable.
- F5. The RSUs vested as to 8.33% of the total shares on May 25, 2025, with an additional 8.33% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
- F6. The RSUs vested as to 8.33% of the total shares on May 25, 2026, with an additional 8.33% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
Key Figures
RSU shares exercised: 12,115 shares
Shares withheld for taxes: 5,480 shares
Tax withholding price: $15.63 per share
+5 more
8 metrics
RSU shares exercised
12,115 shares
Common stock from RSU exercises on May 25, 2026
Shares withheld for taxes
5,480 shares
Withheld to cover tax obligations at $15.63 per share
Tax withholding price
$15.63 per share
Value used for tax-withholding share calculation
Direct common shares held
118,167 shares
Common stock directly owned after transactions
RSUs remaining
17,184 RSUs
Restricted stock units outstanding after vesting and exercises
Quarterly vesting rate
8.33% per quarter
RSU awards vest 8.33% quarterly after initial vest date
Exercise transactions
3 exercises, 12,115 shares
Derivative exercise/conversion events coded as M
Tax-withholding events
1 event, 5,480 shares
Disposition coded F for tax withholding
Key Terms
Restricted Stock Unit ("RSU"), tax withholding obligations, derivative security, vesting, +2 more
6 terms
Restricted Stock Unit ("RSU") financial
"Each restricted stock unit ("RSU") represents the contingent right to receive..."
tax withholding obligations financial
"Represents the number of shares withheld by the Issuer to cover tax withholding obligations..."
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
vesting financial
"The RSUs vested as to 8.33% of the total shares on May 25..."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
non-derivative financial
"transaction_type": "non-derivative""
exercise or conversion financial
"transaction_code_description": "Exercise or conversion of derivative security""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did LendingClub (LC) report for Jordan Cheng?
LendingClub reported that General Counsel Jordan Cheng exercised RSUs into 12,115 common shares. The company simultaneously withheld 5,480 shares to satisfy tax obligations tied to vesting, a non-market transaction rather than an open-market sale.
What RSU position does Jordan Cheng retain at LendingClub (LC)?
After the reported vesting and exercises, Cheng retains 17,184 restricted stock units. Each RSU represents the contingent right to receive one LendingClub common share upon future vesting, subject to continued service with the company.
How do Jordan Cheng’s LendingClub (LC) RSUs vest over time?
The RSUs vest in quarterly installments of 8.33% of the total award. Footnotes explain separate RSU grants began vesting on May 25 in 2024, 2025, and 2026, each continuing to vest quarterly while Cheng remains in service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
