LC Form 4: CFO Andrew LaBenne Disposes 20,903 Shares Under 10b5-1 Plan

Rhea-AI Filing Summary

Andrew LaBenne, Chief Financial Officer of LendingClub Corporation (LC), reported an insider sale under a Rule 10b5-1 plan. On 09/15/2025 he disposed of 20,903 shares of LendingClub common stock in multiple trades at prices ranging from $16.80 to $17.26, with a weighted-average price of $17.0389. Following the reported transaction, the filing shows the reporting person beneficially owned 181,750 shares directly and 10,000 shares indirectly held in UTMA accounts for his children (5,000 shares in each account). The filing states the Plan’s maximum permitted sales represent 6.3% of the reporting person’s equity interest in the issuer as of the period ending March 31, 2025. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 09/17/2025.

Positive

• Transaction executed under a Rule 10b5-1 plan, indicating an established trading program and adherence to insider trading procedures
• Detailed disclosure of execution prices and weighted-average price (range $16.80 to $17.26; weighted-average $17.0389) enabling transparency
• Post-transaction beneficial ownership disclosed (181,750 shares direct; 10,000 shares indirect in UTMAs)

Negative

• Insider disposed of 20,903 shares on 09/15/2025, representing a reduction in the reporting person's direct holdings

Insights

Financial Analyst

TL;DR: Routine, preplanned insider sale under a 10b5-1 plan; modest share reduction with clear price range disclosed.

The Form 4 documents a Rule 10b5-1 trading-plan sale of 20,903 shares executed on 09/15/2025 at an indicated weighted-average price of $17.0389. The disclosure includes the execution price range ($16.80 to $17.26) and confirms continuing beneficial ownership of 181,750 shares plus 10,000 shares held indirectly. From an analytical perspective, this is a compliance-driven, scheduled disposition rather than an ad-hoc sale; it provides limited new information about company fundamentals but does quantify the insider’s remaining stake and the proportion of his equity subject to the plan (6.3% as of March 31, 2025).

Corporate Governance Expert

TL;DR: Governance controls appear upheld: trade executed via a documented 10b5-1 plan and properly reported.

The Form 4 indicates the reporting person used a Rule 10b5-1 trading plan to diversify personal holdings; the filing discloses required details including execution dates, price range, weighted-average price, post-transaction ownership and a note on the plan’s maximum relative to the insider’s equity interest. The transaction was executed and reported in compliance with Section 16 reporting requirements and the signature was provided by an attorney-in-fact, consistent with standard practice.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LaBenne Andrew

(Last) (First) (Middle)

C/O LENDINGCLUB CORPORATION

595 MARKET ST. #200

(Street)

SAN FRANCISCO CA 94105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LendingClub Corp [ LC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/15/2025		S(1)		20,903	D	$17.0389(2)	181,750	D
Common Stock								10,000(3)	I	UTMAs for Children

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan (the "Plan") to diversify the assets of the Reporting Person. As disclosed in, and as of the filing date of, the Issuer's Form 10-Q for the period ending March 31, 2025, the maximum number of shares that can be sold under the Plan, inclusive of the reported transaction, represents 6.3% of the Reporting Person's equity interest in the Issuer.

2. This transaction was executed in multiple trades during the date at prices ranging from $16.80 to $17.26. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.

3. Aggregates 5,000 shares of Issuer's common stock held in each of two UTMA accounts for children of the Reporting Person.

	/s/ Bhavit Sheth, attorney-in-fact	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did LendingClub (LC) insider Andrew LaBenne report on Form 4?

He reported a sale of 20,903 shares of LendingClub common stock on 09/15/2025 executed under a Rule 10b5-1 plan.

At what price were the LC shares sold by the reporting person?

Trades occurred between $16.80 and $17.26 with a reported weighted-average price of $17.0389.

How many LC shares does the reporting person own after the transaction?

181,750 shares directly and 10,000 shares indirectly held in two UTMA accounts for his children.

Was the sale by the LendingClub insider part of a planned program?

Yes; the filing states the transaction was effected pursuant to a Rule 10b5-1 trading plan to diversify the reporting person’s assets.

Who signed the Form 4 for Andrew LaBenne and when?

The form was signed by Bhavit Sheth, attorney-in-fact, on 09/17/2025.