LendingClub CEO RSUs vest; shares withheld for taxes
LendingClub Corp CEO Scott Sanborn reported routine equity compensation activity involving restricted stock units and related tax withholding.
Rhea-AI Filing Summary
LendingClub Corp CEO Scott Sanborn reported routine equity compensation activity involving restricted stock units and related tax withholding. On May 25, 2026, RSUs converted into a total of 27,815 shares of common stock through derivative exercises recorded at $0.0000 per share.
To satisfy tax obligations from the RSU vesting, 14,856 common shares were withheld by the company at $15.63 per share, as noted in the footnotes, and this did not represent an open-market sale. After these transactions, Sanborn directly held 1,618,754 shares of LendingClub common stock and continued to hold 39,453 RSUs representing additional contingent rights to future shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
27,815 shares exercised/converted
Exercise
7 txns
Insider
Sanborn Scott
Role
CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit (RSU) | 13,150 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit (RSU) | 8,045 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit (RSU) | 6,620 | $0.00 | $0.00 |
| Exercise | Common Stock | 13,150 | $0.00 | $0.00 |
| Exercise | Common Stock | 8,045 | $0.00 | $0.00 |
| Exercise | Common Stock | 6,620 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 14,856 | $15.63 | $232K |
Holdings After Transaction:
Restricted Stock Unit (RSU) — 168,598 contracts (Direct);
Common Stock — 1,618,563 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
Shares withheld for taxes: 14,856 shares at $15.63
Shares from RSU conversion: 27,815 shares
Post-transaction common shares: 1,618,754 shares
+2 more
5 metrics
Shares withheld for taxes
14,856 shares at $15.63
Common stock withheld to cover RSU tax obligations on May 25, 2026
Shares from RSU conversion
27,815 shares
Common shares acquired via RSU exercises on May 25, 2026
Post-transaction common shares
1,618,754 shares
Direct common stock holdings after reported transactions
Remaining RSUs
39,453 units
Restricted stock units remaining after the May 25, 2026 vesting events
Tax withholding price
$15.63 per share
Value used for 14,856 withheld shares covering RSU tax obligations
Key Terms
Restricted Stock Unit (RSU), tax withholding obligations, derivative exercise/conversion, Form 4
4 terms
Restricted Stock Unit (RSU) financial
"Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock."
A restricted stock unit (RSU) is a promise from a company to give an employee company shares (or cash equal to their value) at a future date if certain conditions are met, such as staying with the company or hitting performance targets. For investors, RSUs matter because when they convert into actual shares they increase the number of shares available and can create selling pressure as employees cash out—think of them as a future paycheck paid in company stock.
tax withholding obligations financial
"Represents the number of shares withheld by the Issuer to cover tax withholding obligations in connection with the vesting of RSUs."
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
Form 4 regulatory
"INSIDER FILING DATA (Form 4):"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did LendingClub (LC) CEO Scott Sanborn do in this Form 4?
Scott Sanborn recorded RSU vesting and related tax withholding, not an open-market trade. RSUs converted into 27,815 common shares, while 14,856 shares were withheld by the company to cover tax obligations tied to the equity compensation event.
What RSU activity did LendingClub (LC) report for its CEO?
The company reported RSUs converting into 27,815 shares of common stock for Scott Sanborn. These vesting events follow a schedule where 8.33% of the total RSUs vest initially, with additional 8.33% tranches vesting quarterly subject to continued service.
How were taxes handled on Scott Sanborn’s LendingClub (LC) RSU vesting?
Taxes were settled through share withholding rather than cash. LendingClub withheld 14,856 common shares at a value of $15.63 per share to cover tax obligations arising from the RSU vesting, as explicitly described in the accompanying footnote disclosure.
AI-generated analysis. How Rhea-AI works. Not financial advice.
