LendingClub Corp
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
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Item 9B. Other Information
Rule 10b5-1 Trading Plans
To diversify his assets, Scott Sanborn, the Company’s Chief Executive Officer, entered into a sales plan in November 2024 that is intended to comply with Rule 10b5-1(c) under the Exchange Act (the Plan). The maximum number of shares that can be sold under the Plan represents 4.1% of Mr. Sanborn’s current equity interest in the Company including his unvested time-based RSUs and unearned PBRSUs at target performance.
The following table shows the trading arrangements intended to satisfy the affirmative defense conditions of Rule 10b5-1(c)adopted by the Company’s directors and executive officers during the fourth quarter of 2024:
| Name and Title | Adoption Date | Expiration Date | Aggregate Number of Shares to be Sold |
|---|---|---|---|
| Scott Sanborn, Chief Executive Officer and Director | November 20, 2024 | August 1, 2025 | Up to 102,000 |
| Jordan Cheng, General Counsel and Corporate Secretary | November 1, 2024 | May 9, 2025 | Up to 14,000 |
| Erin Selleck, Director | October 31, 2024 | June 30, 2026 | See footnote 1 below |
(1)Ms. Selleck’s trading plan adopted on October 31, 2024, provides for the sale of 12,240 shares plus 50% of the shares she acquires upon each of the quarterly vesting events with respect to her Annual Award to be granted in 2025 pursuant the terms of the Company’s Non-Employee Director Compensation Policy.
Other than disclosed above, during the fourth quarter of 2024, none of the Company’s directors or executive officers adopted orterminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”
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