LendingClub CFO sells 20,000 shares under 10b5-1 plan
LendingClub Corp Chief Financial Officer Andrew LaBenne reported an open-market sale of 20,000 shares of common stock on May 28, 2026 at a weighted-average price of $17.0032 per share.
Rhea-AI Filing Summary
LendingClub Corp Chief Financial Officer Andrew LaBenne reported an open-market sale of 20,000 shares of common stock on May 28, 2026 at a weighted-average price of $17.0032 per share. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan intended to diversify his assets, and the plan allows sales of up to 7.0% of his equity interest in LendingClub, inclusive of this sale.
Following the transaction, LaBenne holds 234,955 shares of LendingClub common stock directly. In addition, 12,000 shares are held indirectly in two UTMA accounts for his children, with 6,000 shares in each account.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares
Net Sell
2 txns
Insider
LaBenne Andrew
Role
Chief Financial Officer
Sold
20,000 shs ($340K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 20,000 | $17.0032 | $340K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 234,955 shares (Direct);
Common Stock — 12,000 shares (Indirect, UTMAs for Children)
Footnotes (3)
- F1. 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, 2026, the maximum number of shares that can be sold under the Plan, inclusive of the reported transaction, represents 7.0% of the Reporting Person's equity interest in the Issuer.
- F2. This transaction was executed in multiple trades during the date at prices ranging from $17.00 to $17.02. 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.
- F3. Aggregates 6,000 shares of Issuer's common stock held in each of two UTMA accounts for children of the Reporting Person.
Key Figures
Shares sold: 20,000 shares
Sale price: $17.0032 per share
Price range: $17.00–$17.02 per share
+3 more
6 metrics
Shares sold
20,000 shares
Open-market sale on May 28, 2026
Sale price
$17.0032 per share
Weighted-average price for 20,000-share sale
Price range
$17.00–$17.02 per share
Range of trade prices during sale
Direct holdings after sale
234,955 shares
Common stock held directly by CFO post-transaction
Indirect UTMA holdings
12,000 shares
6,000 shares in each of two UTMA accounts
Plan sale limit
7.0% of equity interest
Maximum shares that can be sold under 10b5-1 plan
Key Terms
Rule 10b5-1 trading plan, weighted-average price, UTMA accounts, equity interest
4 terms
Rule 10b5-1 trading plan financial
"This transaction was effected pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted-average price financial
"The weighted-average price is reported above."
Weighted-average price is the average of multiple prices where each price is counted according to its size or importance—larger trades carry more weight than smaller ones, like averaging course grades by credit hours. It matters to investors because it gives a more realistic picture of the true price paid or received, helping assess trade execution, compare performance, calculate cost basis, and value positions more accurately than a simple average.
UTMA accounts financial
"held in each of two UTMA accounts for children of the Reporting Person."
equity interest financial
"represents 7.0% of the Reporting Person's equity interest in the Issuer."
An equity interest is an ownership stake in a company that gives the holder a share of its assets, profits and sometimes voting power—think of owning a slice of a pie that grows or shrinks with the business. Investors care because the size and type of that stake determine how much they benefit from future gains, bear losses, receive dividends, or influence decisions, and it directly affects the value and risk of their investment.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did LendingClub (LC) CFO Andrew LaBenne report in this Form 4?
Andrew LaBenne reported selling 20,000 LendingClub common shares in an open-market transaction. The sale occurred on May 28, 2026 at a weighted-average price of $17.0032 per share and was executed under a pre-arranged Rule 10b5-1 trading plan.
What portion of the LendingClub (LC) CFO’s equity can be sold under his plan?
The trading plan permits sales of up to 7.0% of his equity interest. This 7.0% limit is stated as inclusive of the reported 20,000-share sale, defining the overall size of potential sales under the Rule 10b5-1 plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
