LC Insider Sale: Scott Sanborn Disposes 30,000 Shares via 10b5-1 Plan

Rhea-AI Filing Summary

Scott Sanborn, CEO and Director of LendingClub Corp (LC), reported a sale of 30,000 shares on 09/02/2025 under a Rule 10b5-1 trading plan. The weighted-average execution price for the trades that day was $16.6485, reflecting trade prices between $16.44 and $16.81. After the reported sale, the filing shows the Reporting Person beneficially owns 1,270,070 shares, held directly. The filing states the Plan was established to diversify assets and that the maximum number of shares that can be sold under the Plan, inclusive of this transaction, represents 3.5% of the Reporting Person's equity interest as of the period ending June 30, 2025.

Insights

Financial Analyst

TL;DR: Insider sale of 30,000 LC shares via a 10b5-1 plan; remaining direct stake reported at 1,270,070 shares.

The filing documents a routine Rule 10b5-1 planned sale by the CEO, executed in multiple trades on 09/02/2025 at a weighted-average price of $16.6485. The transaction appears intended for portfolio diversification rather than company-specific developments, and the filing discloses the Plan's cap representing 3.5% of the Reporting Person's equity interest as of June 30, 2025. No derivative transactions or other compensatory exercises are reported. For investors, this is a transparent insider disposition but not, by itself, a material change to control or capital structure.

Corporate Governance Expert

TL;DR: Disclosure follows Section 16 requirements and cites a 10b5-1 plan; signature executed by attorney-in-fact.

The Form 4 shows compliance with reporting obligations and notes the sale was pursuant to a written 10b5-1 plan, which supports an affirmative defense to insider trading claims. The filer authorized signature by an attorney-in-fact, Bhavit Sheth, is dated 09/04/2025. The filing includes a willingness to provide detailed execution prices and quantities upon request, which enhances transparency. No indications of disputed governance actions or related-party issues are present in the document.

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^*

Sanborn Scott

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		S(1)		30,000	D	$16.6485(2)	1,270,070	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

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 June 30, 2025, the maximum number of shares that can be sold under the Plan, inclusive of the reported transaction, represents 3.5% 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 $16.44 to $16.81. 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.

	/s/ Bhavit Sheth, attorney-in-fact	09/04/2025
	** 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 CEO Scott Sanborn report on Form 4 for LC?

He reported a sale of 30,000 shares on 09/02/2025 executed under a Rule 10b5-1 trading plan at a weighted-average price of $16.6485.

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

1,270,070 shares of LendingClub common stock are reported as beneficially owned following the sale.

Was the sale part of a 10b5-1 plan and why?

Yes. The filing states the sale was made pursuant to a Rule 10b5-1 plan to diversify the Reporting Person's assets.

What price range were the shares sold at in the reported transaction?

Trades on 09/02/2025 ranged from $16.44 to $16.81, with the filing reporting a weighted-average price of $16.6485.

Who signed the Form 4 and when was it signed?

Signed by attorney-in-fact Bhavit Sheth on 09/04/2025 on behalf of the Reporting Person.