LaBenne Andrew 4

What Happened

• Andrew LaBenne, CFO of LendingClub (LC), had restricted stock units (RSUs) convert into 30,632 shares on Feb 25, 2026 (reported as exercise/conversion of a derivative, code M). To cover tax withholding, 15,786 of those shares were surrendered/withheld at $15.02 per share for a withholding value of $237,106 (code F). The net increase to LaBenne’s holdings from this vesting event is 14,846 shares.
• The filing shows matching derivative conversion/disposition entries (zero-dollar entries) reflecting the RSU-to-share conversion mechanics; the only cash value reported is the tax withholding amount.

Key Details

• Transaction date: 2026-02-25.
• RSUs converted (acquired): 30,632 shares (10,849 + 12,274 + 7,509) at $0.00 per share (vesting conversion).
• Shares withheld for taxes (disposed): 15,786 shares at $15.02 per share — total ~$237,106.
• Net shares retained after withholding: 14,846 shares.
• Relevant footnotes: F1 = each RSU converts to one share on vesting; F2 = shares withheld to cover tax withholding; F3 references 6,000 shares held in each of two UTMA accounts for the reporting person’s children; F4–F7 describe the RSU vesting schedule.
• Filing timeliness: no late filing flag indicated in the provided data.

Context

• This was a routine RSU vesting event and partial cashless tax withholding, not an open-market purchase or voluntary sale. Exercise/conversion code M indicates derivative units (RSUs) converted into shares; code F indicates shares were withheld to satisfy tax obligations. Such withholding is common and does not necessarily indicate a change in the insider’s market view.