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

On March 23, 2023, the Board of Directors (the "Board") of LendingClub Corporation (the "Company") appointed Stephen Cutler, age 61, to the Board, effective immediately. Mr. Cutler was appointed to the Board as a Class II director who will serve until the Company's 2025 annual meeting of stockholders, or until his successor is duly elected and qualified. Mr. Cutler was also appointed as a member of the Audit Committee and Operational Risk Committee.

In connection with joining the Board, Mr. Cutler is entitled to receive a pro rata portion of the annual cash retainer and a grant of restricted stock units, each in accordance with the Company's non-employee director compensation policy as described in the Company's most recent proxy statement, filed with the Securities and Exchange Commission (the "SEC") on April 19, 2022.

The Company will enter into its standard form of indemnity agreement with Mr. Cutler, a copy of which was filed as Exhibit 10.1 to the Company's Form S-1/A filed with the SEC on December 1, 2014.

There are no arrangements or understandings between Mr. Cutler and any other persons pursuant to which he was appointed to the Board. There are also no family relationships between Mr. Cutler and any director or executive officer of the Company and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

On March 27, 2023, the Company issued a press release announcing the appointment of Mr. Cutler to the Board. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.




  Item 9.01    Financial Statements and Exhibits
        (d)    Exhibits



       Exhibit
        Number        Exhibit Title or Description
        99.1            Press Release dated March 27, 2023
                      Cover Page Interactive Data File (Cover page XBRL tags are embedded within
           104        the Inline XBRL document)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses