LendingClub (LC) CFO awarded 74,153 RSUs under 2014 Equity Incentive Plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
LaBenne Andrew reported acquisition or exercise transactions in this Form 4 filing.
LendingClub Corp reported that its Chief Financial Officer, Andrew LaBenne, received a grant of 74,153 restricted stock units (RSUs) under the company’s 2014 Equity Incentive Plan. Each RSU represents the right to receive one share of LendingClub common stock if and when it vests.
The RSUs will vest as to 8.33% of the total shares on May 25, 2026, with an additional 8.33% vesting quarterly thereafter, so long as LaBenne continues in service through each vesting date. Following this grant, he is reported as directly holding 74,153 RSUs.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
LaBenne Andrew
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit (RSU) | 74,153 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Unit (RSU) — 74,153 shares (Direct)
Footnotes (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. Represents a grant of RSUs under the Issuer's 2014 Equity Incentive Plan. Each RSU represents the contingent right to receive, upon vesting of the unit, one share of the Issuer's common stock. The RSUs will vest 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. Not applicable.
FAQ
What insider transaction did LendingClub (LC) report for CFO Andrew LaBenne?
LendingClub reported that Chief Financial Officer Andrew LaBenne received a grant of 74,153 restricted stock units. These RSUs were issued under the 2014 Equity Incentive Plan and give him the right to receive one share of common stock for each unit that ultimately vests.
How many RSUs did the LendingClub (LC) CFO receive in this Form 4 filing?
The CFO, Andrew LaBenne, was granted 74,153 restricted stock units. The filing states that, after this grant, he directly holds 74,153 RSUs, each representing a contingent right to receive one share of LendingClub common stock upon vesting, subject to service conditions.
What is the vesting schedule for Andrew LaBenne’s 74,153 LendingClub (LC) RSUs?
The 74,153 RSUs vest as to 8.33% of the total shares on May 25, 2026. An additional 8.33% of the total shares then vests quarterly thereafter, provided that Andrew LaBenne continues to provide service to LendingClub through each applicable vesting date.
Under which plan were the RSUs granted to LendingClub (LC) CFO Andrew LaBenne?
The RSUs were granted under LendingClub’s 2014 Equity Incentive Plan. The filing explains that each restricted stock unit represents a contingent right to receive one share of the company’s common stock upon vesting, aligning the award with the company’s equity compensation framework.
Does the RSU grant to LendingClub (LC) CFO involve any purchase price?
The RSU grant carries a transaction price per share of 0.0000, meaning no cash purchase price was paid for the units. Instead, the award is a form of equity compensation that converts into common shares only if the vesting and continued service conditions are satisfied.