Stack Fergal 4

What Happened
Fergal Stack, SVP and Corporate Controller of LendingClub (LC), had restricted stock units (RSUs) convert into 10,671 shares on Feb 25, 2026. The issuer withheld 4,807 of those shares to satisfy tax withholding obligations at $15.02/share (withholding value $72,201), resulting in 5,864 net shares issued to Stack. The filing shows these were vesting-related conversions of RSUs rather than an open-market purchase or sale.

Key Details

• Transaction date: February 25, 2026; Form 4 filed February 27, 2026 (filed within the usual two-business-day window).
• Conversion details: three derivative conversions reported (5,646; 3,118; 1,907 shares) totaling 10,671 shares (code M = exercise/conversion of derivative).
• Tax withholding: 4,807 shares withheld by the issuer at $15.02 per share for $72,201 (code F = tax withholding; not a market sale).
• Net shares delivered to insider: 5,864 shares (10,671 vested − 4,807 withheld). Estimated total value of vested shares at $15.02 ≈ $160.3k; net shares ≈ $88.1k.
• Shares owned after transaction: not specified in the provided filing.
• Relevant footnotes: F1–F2 confirm RSUs convert to common shares on vesting and that shares were withheld to cover taxes; F3–F6 describe the RSU vesting schedule (initial 8.33% on May 25, 2023/2024/2025 then quarterly thereafter, subject to continued service).

Context
This was a routine vesting of RSUs (an award), not a market sale or open-market purchase. The conversion plus issuer withholding is a common way to pay tax obligations on vested equity—treated as an award vesting event rather than a trade signal. Transaction codes: M indicates conversion/exercise of a derivative (here RSUs), and F indicates shares withheld for tax withholding.