LendingClub Names R. Kent Tharp CFO
Ticker: LC · Form: 8-K · Filed: Jun 5, 2024 · CIK: 1409970
| Field | Detail |
|---|---|
| Company | Lendingclub CORP (LC) |
| Form Type | 8-K |
| Filed Date | Jun 5, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: LC
TL;DR
LendingClub officially names R. Kent Tharp as CFO, effective immediately. He was interim CFO since Jan.
AI Summary
On June 3, 2024, LendingClub Corp. announced the appointment of R. Kent Tharp as Chief Financial Officer, effective immediately. Tharp will also serve as Principal Financial Officer and Principal Accounting Officer. He previously served as interim CFO since January 2024 and has been with the company since 2015. Tharp will receive an annual base salary of $450,000, a target annual bonus of 100% of his base salary, and a stock option grant of 150,000 shares.
Why It Matters
The appointment of a permanent CFO provides stability and clarity to the company's financial leadership, which can be reassuring to investors.
Risk Assessment
Risk Level: low — This filing is a routine executive appointment and compensation disclosure, with no immediate financial risks indicated.
Key Numbers
- $450,000 — Annual Base Salary (For new CFO R. Kent Tharp)
- 100% — Target Annual Bonus (For new CFO R. Kent Tharp)
- 150,000 — Stock Options (Granted to new CFO R. Kent Tharp)
Key Players & Entities
- LendingClub Corp. (company) — Registrant
- R. Kent Tharp (person) — Appointed Chief Financial Officer
- 450,000 (dollar_amount) — Annual base salary for R. Kent Tharp
- 100% (dollar_amount) — Target annual bonus percentage for R. Kent Tharp
- 150,000 (dollar_amount) — Stock option grant for R. Kent Tharp
- January 2024 (date) — Start date as interim CFO
- June 3, 2024 (date) — Effective date of appointment
FAQ
Who has been appointed as the new Chief Financial Officer of LendingClub Corp.?
R. Kent Tharp has been appointed as the new Chief Financial Officer of LendingClub Corp.
When is the appointment of R. Kent Tharp as CFO effective?
The appointment of R. Kent Tharp as CFO is effective immediately as of June 3, 2024.
What is R. Kent Tharp's annual base salary as CFO?
R. Kent Tharp's annual base salary as CFO is $450,000.
What is the target annual bonus for the new CFO?
The target annual bonus for the new CFO, R. Kent Tharp, is 100% of his base salary.
How many stock options has R. Kent Tharp been granted?
R. Kent Tharp has been granted a stock option award of 150,000 shares.
Filing Stats: 411 words · 2 min read · ~1 pages · Grade level 12.7 · Accepted 2024-06-05 17:00:46
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 per share LC New York Stock Exchange
Filing Documents
- lc-20240603.htm (8-K) — 24KB
- 0001409970-24-000031.txt ( ) — 145KB
- lc-20240603.xsd (EX-101.SCH) — 2KB
- lc-20240603_lab.xml (EX-101.LAB) — 22KB
- lc-20240603_pre.xml (EX-101.PRE) — 12KB
- lc-20240603_htm.xml (XML) — 3KB
From the Filing
lc-20240603 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 3, 2024 LendingClub Corporation (Exact name of registrant as specified in its charter) Commission File Number: 001-36771 Delaware 51-0605731 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 595 Market Street, Suite 200, San Francisco, CA 94105 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: 415 930-7440 Former name or former address, if changed since last report: N/A 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: 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)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common stock, par value $0.01 per share LC New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On June 3, 2024, Ronnie Momen, the Chief Business Officer of LendingClub Corporation (the "Company"), informed the Company of his intent to resign from the Company effective as of June 14, 2024. Mr. Momen's decision is not a result of any disagreement with the Company. SIGNATURE(S) 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 Date: June 5, 2024 By: /s/ Andrew LaBenne Andrew LaBenne Chief Financial Officer