LendingClub (LC) Form 4 LendingClub / Scott Sanborn ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Sanborn Scott

(Last) (First) (Middle)

C/O LENDINGCLUB CORPORATION

595 MARKET ST. #200

(Street)

SAN FRANCISCO CA 94105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LendingClub Corp [ LC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/25/2021		M		6,881	A	$0(1)	743,893	D
Common Stock	02/25/2021		F		3,623(2)	D	$10.86	740,270	D
Common Stock	02/25/2021		M		9,329	A	$0(1)	749,599	D
Common Stock	02/25/2021		F		4,912(2)	D	$11.99	744,687	D
Common Stock	02/25/2021		M		9,984	A	$0(1)	754,671	D
Common Stock	02/25/2021		F		5,257(2)	D	$11.99	749,414	D
Common Stock	02/25/2021		M		10,190	A	$0(1)	759,604	D
Common Stock	02/25/2021		F		5,366(2)	D	$11.99	754,238	D
Common Stock	02/25/2021		M		13,495	A	$0(1)	767,733	D
Common Stock	02/25/2021		F		7,106(2)	D	$11.99	760,627	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit (RSU)	$0(1)	02/25/2021		M			6,881	(3)	(4)	Common Stock	6,881	$0	0	D
Restricted Stock Unit (RSU)	$0(1)	02/25/2021		M			9,329	(5)	(4)	Common Stock	9,329	$0	37,314	D
Restricted Stock Unit (RSU)	$0(1)	02/25/2021		M			9,984	(6)	(4)	Common Stock	9,984	$0	79,873	D
Restricted Stock Unit (RSU)	$0(1)	02/25/2021		M			10,190	(7)	(4)	Common Stock	10,190	$0	30,570	D
Restricted Stock Unit (RSU)	$0(1)	02/25/2021		M			13,495	(8)	(4)	Common Stock	13,495	$0	161,949	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock.

2. Represents the number of shares withheld by the Issuer to cover tax withholding obligations in connection with the vesting of RSUs.

3. The RSUs vested as to 6.25% of the total shares on May 25, 2017, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.

4. Not applicable.

5. The RSUs vested as to 6.25% of the total shares on May 25, 2018, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.

6. The RSUs vested as to 6.25% of the total shares on May 25, 2019, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.

7. The RSUs vested as to 25% of the total shares on May 25, 2020, with an additional 12.5% of the total shares vesting quarterly thereafter, subject to continuous service through each vesting date.

8. The RSUs vested as to 6.25% of the total shares on May 25, 2020, with an additional 6.25% of the total shares vesting quarterly thereafter, subject to continued service through each vesting date.

	/s/ Bhavit Sheth, attorney-in-fact	03/01/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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