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EX-99.1 - PRESS RELEASE - LendingClub Corpd452063dex991.htm












Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 13, 2012



LendingClub Corporation

(Exact name of registrant as specified in its charter)




Delaware   000-54752    51-0605731

(State or Other Jurisdiction

of Incorporation)



File Number)

   (IRS Employer

Identification No.)

71 Stevenson St., Suite 300, San Francisco CA 94105    94105
(Address of Principal Executive Offices)    (Zip Code)

Registrant’s telephone number, including area code: (415) 632.5600

Not applicable.

(Former name or former address, if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Item 5.02(d) Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Effective December 13, 2012, the Board of Directors (“Board”) of LendingClub Corporation (“Company”) appointed Lawrence H. Summers as a member of the Company’s Board. Mr. Summers was granted an option to purchase 333,106 shares of the Company’s common stock at an exercise price of $2.78 per share. The option vests quarterly (with a one year cliff) and becomes exercisable in full by the fourth anniversary of the date of grant, provided the he remains in continuous service as a director through that date. As of November 30, 2012, Mr. Summers had committed approximately $193,000 to investing through the Company’s platform. There are no other related person transactions between Mr. Summers and the Company other than those that have been disclosed in this Current Report on Form 8-K.


Item 7.01. Regulation FD Disclosure

The Company issued a press release on December 13, 2012 regarding the appointment of Mr. Summers to its Board of Directors. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference. This information contain herein shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing of the Company, whether made before or after the date of this report, regardless of any general incorporation language in the filing.

Section 9 – Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits


(c) Exhibits.


Exhibit    Description
99.1    Press release dated December 13, 2012


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


    LendingClub Corporation
December 17, 2012   By:  

/s/ Carrie Dolan

    Carrie Dolan
    Chief Financial Officer
    (duly authorized officer)