Cheng Jordan 4

What Happened Cheng Jordan, General Counsel & Secretary of LendingClub (LC), had RSUs vest on Feb 25, 2026 that converted into 12,122 shares of common stock (three vesting lots of 2,890; 5,728; and 3,504 shares). To cover tax withholding, 5,963 shares were withheld by the issuer at an indicated per-share value of $15.02 (withheld value ≈ $89,564), leaving a net delivery of about 6,159 shares to Jordan. The RSU conversion entries are reported as derivative exercises (code M) and the withholding is reported as code F.

Key Details

• Transaction date: Feb 25, 2026; Form 4 filed Feb 27, 2026 (timely filing).
• Shares converted: 12,122 shares at $0.00 acquisition price (vested RSUs converted to stock).
• Shares withheld for taxes: 5,963 shares at $15.02/share ≈ $89,564 (code F; issuer withholding, not an open-market sale).
• Net shares delivered to insider: ~6,159 shares.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Relevant footnotes: F1–F6 describe RSU mechanics and vesting schedule; F2 confirms withholding is to cover taxes (not a market sale).

Context This was a routine RSU vesting and net settlement (issuer withheld shares for tax obligations), not an open-market purchase or sale. For retail investors, such transactions typically reflect compensation vesting rather than insider views on company prospects. The filing shows conversion of RSUs to shares (derivative exercise) and a cashless/net withholding for taxes.