Sanborn Scott 4

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.