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LendingClub (NYSE: LC) counsel converts RSUs, withholds shares for taxes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

LendingClub Corp’s General Counsel & Secretary, Jordan Cheng, reported the vesting and conversion of restricted stock units into common stock, acquiring 12,122 shares on February 25, 2026 through derivative exercises at a price of $0.00 per share.

On the same date, 5,963 common shares at $15.02 per share were surrendered back to the company to cover tax withholding obligations related to the RSU vesting, which the filing specifies does not represent an open-market sale.

Positive

  • None.

Negative

  • None.
Insider Cheng Jordan
Role General Counsel & Secretary
Type Security Shares Price Value
Exercise Restricted Stock Unit (RSU) 2,890 $0.00 --
Exercise Restricted Stock Unit (RSU) 5,728 $0.00 --
Exercise Restricted Stock Unit (RSU) 3,504 $0.00 --
Exercise Common Stock 2,890 $0.00 --
Exercise Common Stock 5,728 $0.00 --
Exercise Common Stock 3,504 $0.00 --
Tax Withholding Common Stock 5,963 $15.02 $90K
Holdings After Transaction: Restricted Stock Unit (RSU) — 0 shares (Direct); Common Stock — 109,170 shares (Direct)
Footnotes (1)
  1. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock. 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. The RSUs vested as to 8.33% of the total shares on May 25, 2023, with an additional 8.33% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date. Not applicable. 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. 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.
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Form 4 Insider Transactions: What Each Field Means →
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).
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*
Cheng Jordan
(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)
General Counsel & Secretary
3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026
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 02/25/2026 M 2,890 A $0(1) 109,170 D
Common Stock 02/25/2026 M 5,728 A $0(1) 114,898 D
Common Stock 02/25/2026 M 3,504 A $0(1) 118,402 D
Common Stock 02/25/2026 F 5,963(2) D $15.02 112,439 D
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
Restricted Stock Unit (RSU) $0(1) 02/25/2026 M 2,890 (3) (4) Common Stock 2,890 $0 0 D
Restricted Stock Unit (RSU) $0(1) 02/25/2026 M 5,728 (5) (4) Common Stock 5,728 $0 22,912 D
Restricted Stock Unit (RSU) $0(1) 02/25/2026 M 3,504 (6) (4) Common Stock 3,504 $0 28,033 D
Explanation of Responses:
1. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.
2. 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.
3. The RSUs vested as to 8.33% of the total shares on May 25, 2023, with an additional 8.33% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.
4. Not applicable.
5. 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.
6. 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.
/s/ Bhavit Sheth, attorney-in-fact 02/27/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did LendingClub (LC) report for Jordan Cheng?

Jordan Cheng reported RSU vesting that converted into 12,122 shares of LendingClub common stock on February 25, 2026. These transactions reflect equity compensation becoming shares, rather than an open-market purchase, and are tied to previously granted restricted stock units.

Did LendingClub (LC) General Counsel sell shares in this Form 4 filing?

The filing indicates no traditional open-market sale by Jordan Cheng. Instead, 5,963 shares of LendingClub common stock were withheld by the company at $15.02 per share solely to satisfy tax withholding obligations triggered by RSU vesting events.

How many LendingClub (LC) shares did Jordan Cheng acquire from RSU vesting?

Jordan Cheng acquired 12,122 shares of LendingClub common stock through RSU conversions on February 25, 2026. These came from three RSU grants, each converted at a price of $0.00 per share as part of the company’s equity compensation program.

What does the tax withholding transaction mean in the LendingClub (LC) Form 4?

The Form 4 shows 5,963 LendingClub shares withheld at $15.02 each to cover tax obligations from RSU vesting. A footnote clarifies this represents payment of tax liability by delivering shares back to the issuer, not a discretionary sale into the market.

What role does vesting schedule play in LendingClub (LC) RSU transactions?

Footnotes state these LendingClub RSUs vest 8.33% initially on specified May 25 dates, then 8.33% quarterly thereafter, contingent on continued service. This schedule explains why new tranches vested and converted into common stock on February 25, 2026.