LendingClub Corp 4
4 · LendingClub Corp · Filed Nov 25, 2015
Insider Transaction Report
Form 4
Crowe Jeffrey
Director10% Owner
Transactions
- Other
Common Stock
2015-11-23−4,891,938→ 23,140,610 total(indirect: By Partnership)
Holdings
- 11,717
Common Stock
Footnotes (3)
- [F1]Represents the 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 100% on June 10, 2016.
- [F2]Shares were disposed of via a pro-rata in-kind distribution of issuer's stock from Norwest Venture Partners X, LP ("NVP X") to its limited and general partners, and further distribution by Genesis VC Partners X, LLC ("Genesis X"), the general partner of NVP X, to its members.
- [F3]The NVP X and Genesis X distributions resulted in a change in the form of beneficial ownership so that following the distibutions 291,524 shares were beneficially owned by the Crowe Family Trust, 12/22/88, of which Mr. Crowe is a Trustee and the Laura Bassell Crowe Irrevocable Trust I, the Katherine Bassell Crowe Irrevocable Trust I, and the Molly Bassell Crowe Irrevocable Trust I, of which Mr. Crowe is a Trustee, each beneficially owned 9,022 shares. The remaining 22,822,020 shares are beneficially held of record by NVP X. By virtue of his position as a co-Chief Executive Officer of NVP Associates, LLC, the managing member of Genesis X, Mr. Crowe may be deemed to share voting and dispositive power with respect to such securities. Mr. Crowe disclaims beneficial ownership of all securities, except to the extent of any pecuniary interest therein.