LaBenne Andrew 4
4 · LendingClub Corp · Filed May 29, 2026
Research Summary
AI-generated summary of this filing
LendingClub (LC) CFO Andrew LaBenne Sells 20,000 Shares
What Happened
Andrew LaBenne, Chief Financial Officer of LendingClub (LC), sold 20,000 shares of LendingClub common stock in an open-market transaction on May 28, 2026. The reported weighted-average price was $17.00 (trade prices ranged $17.00–$17.02), producing proceeds of approximately $340,064. This was a sale (not a purchase), executed pursuant to a prearranged Rule 10b5-1 trading plan.
Key Details
- Transaction date: 2026-05-28; Form 4 filed 2026-05-29 (appears timely; Form 4 normally due within two business days).
- Price(s): trades executed between $17.00 and $17.02; weighted-average price reported as $17.00.
- Shares disposed: 20,000; reported proceeds: $340,064.
- Shares owned after transaction: not specified in the provided filing.
- Footnotes of note:
- The sale was effected under a Rule 10b5-1 plan to diversify the reporting person’s assets; the plan’s maximum sellable shares, inclusive of this transaction, represent 7.0% of the reporting person’s equity interest in the issuer.
- The trades were executed in multiple transactions during the date; the reporting person will provide full trade-level price/quantity details on request.
- The filing aggregates 6,000 shares held in each of two UTMA accounts for the reporting person’s children (12,000 shares total) where applicable.
Context
A 10b5-1 plan indicates the trades were prearranged and routine rather than necessarily a contemporaneous signal about the company’s outlook. Sales can reflect diversification or liquidity needs; they are not direct evidence of insider sentiment.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-05-28$17.00/sh−20,000$340,064→ 234,955 total
- 12,000(indirect: By Children)
Common Stock
[F3]
Footnotes (3)
- [F1]This transaction was effected pursuant to a Rule 10b5-1 trading plan (the "Plan") to diversify the assets of the Reporting Person. As disclosed in, and as of the filing date of, the Issuer's Form 10-Q for the period ending March 31, 2026, the maximum number of shares that can be sold under the Plan, inclusive of the reported transaction, represents 7.0% of the Reporting Person's equity interest in the Issuer.
- [F2]This transaction was executed in multiple trades during the date at prices ranging from $17.00 to $17.02. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
- [F3]Aggregates 6,000 shares of Issuer's common stock held in each of two UTMA accounts for children of the Reporting Person.