LC Insider Filing: SVP Fergal Stack RSU Vesting and Tax Withholding Reported
Rhea-AI Filing Summary
Insider transactions at LendingClub (LC): This Form 4 reports multiple restricted stock unit (RSU) vestings for SVP and Corporate Controller Fergal Stack on 08/25/2025. Several RSUs were converted to common stock at $0 per unit, resulting in incremental beneficial ownership increases: 5,645; 3,117; and 1,907 shares in separate vesting events, and a separate entry shows 4,300 shares withheld by the issuer to satisfy tax withholding at $16.31 per share. After these transactions the reporting person beneficially owned between 248,110 and 253,134 shares across lines reported. The filing was signed by an attorney-in-fact on 08/27/2025.
Positive
- Transparent reporting of scheduled RSU vesting and tax withholding consistent with Section 16 requirements
- Beneficial ownership increased through vesting (total incremental shares reported: 10,669 non‑withheld shares)
Negative
- Issuer withheld 4,300 shares to cover tax obligations, reducing net shares delivered to the reporting person
Insights
TL;DR: Routine RSU vesting and tax-withholding, modest change in insider's share count without sale to third parties.
The filing documents standard employee equity compensation activity: multiple RSU vesting events converted to shares at $0 per unit, increasing beneficial ownership in stages, and the issuer withheld 4,300 shares to cover taxes at $16.31 per share. This is a non‑cash compensation settlement rather than an open‑market sale, so it does not represent a liquidity event by the insider. The incremental ownership changes are disclosed across both non‑derivative and derivative tables and reflect scheduled vesting terms described in the explanations.
TL;DR: Disclosure aligns with Section 16 reporting obligations; transactions appear consistent with company RSU plan vesting.
The Form 4 provides the required transparency for insiders by listing the vesting dates, amounts, and the tax‑withholding arrangement where shares were withheld (4,300 shares at $16.31). The explanatory footnotes clarify vesting schedules (initial 8.33% on May 25 of successive years with quarterly vesting thereafter). No indications of atypical timing, related‑party transfers, or exercises beyond scheduled vesting are present in the record.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit (RSU) | 5,645 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 3,117 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 1,907 | $0.00 | -- |
| Exercise | Common Stock | 5,645 | $0.00 | -- |
| Exercise | Common Stock | 3,117 | $0.00 | -- |
| Exercise | Common Stock | 1,907 | $0.00 | -- |
| Tax Withholding | Common Stock | 4,300 | $16.31 | $70K |
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. 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.
