LC Form 4: Director Sale Under 10b5-1, Retains 73,987 Shares and 14,341 RSUs

Rhea-AI Filing Summary

Erin Selleck, a director of LendingClub Corporation (LC), reported a sale of common stock under a pre-established trading plan. On 09/05/2025 Ms. Selleck disposed of 2,390 shares at $16.82 per share pursuant to a Rule 10b5-1 plan. After the sale she beneficially owned 73,987 shares directly and reported 14,341 unvested Restricted Stock Units (RSUs) granted as an annual non-employee director award. The RSUs convert to one share each as they vest quarterly over one year beginning June 3, 2025. The Form 4 was signed by attorney-in-fact Bhavit Sheth on 09/09/2025.

Positive

• Sale executed under a Rule 10b5-1 plan, indicating pre-established trading and reducing appearance of opportunistic insider selling.
• Significant retained direct ownership of 73,987 shares, showing continued alignment with shareholders.
• Unvested RSUs (14,341) vest quarterly over one year, aligning director incentives with company performance.

Negative

• Disposition of 2,390 shares on 09/05/2025 at $16.82 reduces the reporting person’s immediate stake.
• No additional context in the filing about whether more transactions under the 10b5-1 plan are expected.

Insights

Financial Analyst

TL;DR: Insider sold a small block under a 10b5-1 plan while retaining a substantial direct holding and unvested RSUs.

The sale of 2,390 shares at $16.82 was executed under a Rule 10b5-1 trading plan, indicating it was preplanned rather than opportunistic. Post-transaction ownership of 73,987 shares plus 14,341 RSUs means the reporting person maintains meaningful alignment with shareholder outcomes. This transaction alone is routine and provides limited new information about company fundamentals.

Corporate Governance Expert

TL;DR: Use of a 10b5-1 plan and continued equity compensation are consistent with standard governance practices for non-employee directors.

The filing discloses an annual non-employee director RSU award that vests quarterly over a year, aligning director incentives with shareholder value. The documented use of a 10b5-1 plan reduces concerns about trading on material nonpublic information. The signature by an attorney-in-fact is properly noted, and the disclosure appears complete for the transactions reported.

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^*

Selleck Erin

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		S(1)		2,390	D	$16.82	73,987	D
Common Stock								14,341(2)	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.

2. Represents the unvested portion of an annual non-employee director equity award of Restricted Stock Units ("RSUs") made under the LendingClub Corporation 2014 Equity Incentive Plan. Each RSU represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock. The RSUs will vest quarterly over a one-year period beginning on June 3, 2025, subject to continued service through each vesting date.

	/s/ Bhavit Sheth, attorney-in-fact	09/09/2025
	** 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 director Erin Selleck report on Form 4 (LC)?

Erin Selleck reported selling 2,390 shares at $16.82 per share on 09/05/2025 and retaining 73,987 shares plus 14,341 unvested RSUs.

Was the sale by Erin Selleck an open-market trade or under a trading plan?

The sale was effected pursuant to a Rule 10b5-1 trading plan, as disclosed in the Form 4.

How many unvested RSUs does the reporting person hold and when do they vest?

14,341 RSUs represent the unvested portion of an annual director award and will vest quarterly over one year beginning June 3, 2025.

Who signed the Form 4 and when was it filed?

Bhavit Sheth, attorney-in-fact, signed the filing on 09/09/2025 as indicated on the Form 4.

What was the price per share for the reported sale on 09/05/2025?

$16.82 per share was the reported sale price for the 2,390 shares disposed of on 09/05/2025.