LendingClub Corp 4
4 · LendingClub Corp · Filed Aug 29, 2016
Insider Transaction Report
Form 4
Coleman Bradley
Principle Accounting Officer
Transactions
- Award
Common Stock
2016-08-25+271,740→ 467,635 total - Sale
Common Stock
2016-08-26$5.60/sh−1,943$10,881→ 465,692 total
Footnotes (3)
- [F1]Represents a grant of restricted stock units under the LendingClub Corporation 2014 Equity Incentive Plan. Each restricted stock unit represents the contingent right to receive, upon vesting of the unit, one share of the Issuer's common stock. The restricted stock units are scheduled to vest as to 6.25% of the total shares quarterly, over a four-year period, beginning on August 25, 2016, subject to continued employment through each vesting date.
- [F2]Represents the number of shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting of RSUs. This sale is mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the reporting person.
- [F3]This transaction was executed in multiple trades during the day at prices ranging from $5.585 to $5.62. 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.