LC Form 4: CEO RSU Vesting and 19,245-Share Sale Reported
Rhea-AI Filing Summary
LendingClub director and CEO Scott Sanborn reported multiple transactions in the issuer's common stock on 08/25/2025. Several restricted stock units (RSUs) vested and were converted to shares, resulting in acquisitions totaling 36,140 shares reported as grants (14,944; 13,151; 8,045) at a $0 per-share grant value. The filing also shows 19,245 shares were disposed of in a sale at $16.31 per share, and the issuer withheld shares to satisfy tax withholding obligations related to RSU vesting.
The reporting person’s total beneficial ownership figures change across entries, with post-transaction holdings reported in the range of about 1.30 million to 1.32 million shares, reflecting the combined effect of vesting, withholding for taxes, and the listed sale.
Positive
- Equity compensation vested indicates alignment of the CEO with shareholder interests through continued equity ownership
- Material beneficial ownership retained with reported holdings above 1.3 million shares after transactions
Negative
- Open-market sale of 19,245 shares at $16.31 represents a reduction in holdings that investors may note
- Share withholding for taxes reduced the net increase from RSU vesting, partially offsetting new ownership from grants
Insights
TL;DR: Insider received vested RSUs, sold a portion at $16.31, and net holdings remain above 1.3M shares.
The transactions are largely compensation-driven: multiple RSU grants vested and were reported as acquisitions at $0 per share consistent with standard equity compensation vesting. The 19,245-share disposal at $16.31 appears to be a sale, while withheld shares cover tax obligations. These moves likely reflect routine post-vesting tax management rather than a strategic change in ownership. Reported beneficial ownership remains material on an absolute basis but the filing contains no forward-looking statements or indications of further disposition plans.
TL;DR: Governance-wise this is routine equity compensation activity with tax withholding and an accompanying open-market sale.
The pattern—periodic RSU vesting with share withholding for taxes and a contemporaneous sale—is common for executives who receive time-based equity awards. The filing identifies the reporting person as both director and CEO, so transparency around these transactions supports disclosure compliance. There is no indication of atypical planned trading under a 10b5-1 plan in the text, and the filing does not assert reliance on such a plan.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit (RSU) | 14,944 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 13,151 | $0.00 | -- |
| Exercise | Restricted Stock Unit (RSU) | 8,045 | $0.00 | -- |
| Exercise | Common Stock | 14,944 | $0.00 | -- |
| Exercise | Common Stock | 13,151 | $0.00 | -- |
| Exercise | Common Stock | 8,045 | $0.00 | -- |
| Tax Withholding | Common Stock | 19,245 | $16.31 | $314K |
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.
