Sanborn Scott 4
4 · LendingClub Corp · Filed Jun 4, 2026
Research Summary
AI-generated summary of this filing
LendingClub (LC) CEO Scott Sanborn Sells 23,851 Shares
What Happened
Scott Sanborn, CEO and director of LendingClub (LC), sold 23,851 shares in an open‑market transaction on June 2, 2026. The shares were disposed at a weighted‑average price of $17.86 per share, for total proceeds of approximately $425,948. This was a sale (not a purchase) and was effected under a pre‑established Rule 10b5‑1 trading plan.
Key Details
- Transaction date: 2026-06-02; Form filed: 2026-06-04 (timely filing).
- Shares sold: 23,851; weighted‑average price: $17.86; total proceeds: ~$425,948.
- Price range: trades executed during the day at $17.35–$18.18 (reported as multiple trades; weighted average shown).
- Footnote: Transaction was made pursuant to a Rule 10b5‑1 plan to diversify the reporting person’s holdings; as of the issuer’s 10‑Q, the maximum shares that can be sold under the plan (including this sale) represent 9.4% of the reporting person’s equity interest.
- The filer states they can provide full breakdown of number of shares and prices on request.
- Shares owned after the transaction: not disclosed in the provided Form 4.
Context
Sales executed under a 10b5‑1 plan are pre‑arranged and commonly used to diversify or rebalance holdings; they do not by themselves indicate the insider’s current view of the company’s prospects. Purchases generally carry more informational weight for investors, while routine, preplanned sales are often liquidity or diversification events.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-06-02$17.86/sh−23,851$425,948→ 1,594,712 total
Footnotes (2)
- [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 9.4% 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 $17.35 to $18.18. 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.