LendingClub Corp 8-K

What Happened

• LendingClub Corporation (LC) filed a Form 8‑K (Item 5.02) reporting board and executive changes. John C. (Hans) Morris notified the company on January 22, 2026 that he will resign from the Board and his role as independent Chairman effective March 31, 2026. The Board appointed Director Timothy J. Mayopoulos as independent Chairman effective April 1, 2026. On the same day, Annie Armstrong informed the company she will resign as Chief Risk Officer effective March 1, 2026 and is expected to remain as a non‑executive employee through March 31, 2026.

Key Details

• Hans Morris: nearly 13 years on the Board; resignation effective March 31, 2026; not due to any disagreement with the company.
• Timothy Mayopoulos: Board member since 2016; appointed independent Chairman effective April 1, 2026.
• Annie Armstrong: resigning as Chief Risk Officer effective March 1, 2026; will stay in a non‑executive capacity through March 31, 2026 to support transition.
• Filing signed by CFO Andrew LaBenne on January 27, 2026 (Form 8‑K submission date).

Why It Matters

• Governance and risk leadership are material to LendingClub’s strategy and regulatory posture, especially after its recent bank‑charter work. The appointment of an experienced insider (Mayopoulos) as independent Chair signals continuity at the board level. The CRO’s planned departure and transition period could affect ongoing risk initiatives; investors should watch for announcements about the permanent CRO successor and any related impacts on risk oversight or execution.