Cheng Jordan 4

What Happened
Cheng Jordan, General Counsel & Secretary of LendingClub (LC), received a grant of 34,605 restricted stock units (RSUs) on 2026-03-05. The Form 4 shows the acquisition as a derivative award (code A) with $0 paid — RSUs are a compensation award that convert to shares upon vesting rather than an open-market purchase.

Key Details

• Transaction date: 2026-03-05; Form 4 filed: 2026-03-09 (filed within the 2-business-day Section 16 reporting window).
• Shares/securities granted: 34,605 RSUs; reported price paid: $0 (award).
• Plan: Issued under the Issuer's 2014 Equity Incentive Plan (footnote F2).
• Vesting: 8.33% of the total shares vest on May 25, 2026, then an additional 8.33% quarterly thereafter, subject to continued service (footnote F2).
• Footnotes: F1 defines each RSU as the contingent right to one share upon vesting; F3 not applicable.
• Shares owned after transaction: not disclosed in the filing.
• No tax-withholding sale or immediate sale reported with this grant.

Context
RSU grants are compensation and vest over time; they are not the same as a market purchase or sale and do not by themselves signal buying or selling intent. The Form 4 records the award (derivative grant) and the vesting schedule — any future ownership or sales will depend on vesting and subsequent transactions.