{"schema_version":"secwatch.filing_event.v1","accession":"0001409970-23-000003","form_type":"8-K","ticker":"LC","cik":"0001409970","company_name":"LendingClub Corp","filed_at":"2023-01-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:44.808644+00:00","generated_at":"2026-06-20T15:56:40.536416+00:00","sec_items":["2.02","5.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"LendingClub cuts 14% workforce, expects $25-30M annual savings; provides preliminary Q4 results","bullets":["Workforce reduction of 225 employees (14%); expects $25-30M annualized compensation savings.","Pre-tax charges of ~$5.7M; $4.4M expensed in Q4 2022.","Preliminary Q4 2022 revenue $260-263M, net income $21-24M; FY 2022 revenue $1,185-1,188M, net income $287-290M.","Q4 loan originations $2.5B; includes $1.05B MUFG Union Bank portfolio acquisition.","Chief Capital Officer Valerie Kay to depart Feb 25, 2023; will receive severance per agreement."],"urls":{"canonical":"https://secwatch.observer/filing/0001409970-23-000003","json":"https://secwatch.observer/filing/0001409970-23-000003.json","markdown":"https://secwatch.observer/filing/0001409970-23-000003.md","text":"https://secwatch.observer/filing/0001409970-23-000003.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1409970/000140997023000003/0001409970-23-000003-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1409970/000140997023000003/lc-20230107.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T15:56:40.536416+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d34c80ee1292d1251d37732ef59def5952f737d5","claim":"LendingClub Corp reported Full Year 2022 results: revenue $1,185 to $1,188 million, net income $287 to $290 million.","evidence_excerpt":"expects revenue and net income for the fourth quarter and full year 2022 within the following ranges: Fourth Quarter 2022 Full Year 2022 Revenue $260 to $263 million $1,185 to $1,188 million Net Income $21 to $24 million $287 to $290 million","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1409970/000140997023000003/0001409970-23-000003-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Full Year 2022"},{"label":"Revenue","value":"$1,185 to $1,188 million"},{"label":"Net income","value":"$287 to $290 million"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"},{"claim_id":"efd93c69c168fe97a67656828c1ceaab0008f47e","claim":"LendingClub Corp reported Fourth Quarter 2022 results: revenue $260 to $263 million, net income $21 to $24 million.","evidence_excerpt":"expects revenue and net income for the fourth quarter and full year 2022 within the following ranges: Fourth Quarter 2022 Full Year 2022 Revenue $260 to $263 million $1,185 to $1,188 million Net Income $21 to $24 million $287 to $290 million","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1409970/000140997023000003/0001409970-23-000003-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Fourth Quarter 2022"},{"label":"Revenue","value":"$260 to $263 million"},{"label":"Net income","value":"$21 to $24 million"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"},{"claim_id":"09c6c1b677","claim":"Valerie Kay departed as Chief Capital Officer at LendingClub Corp.","evidence_excerpt":"Accordingly, the final day of employment with the Company for the current chief capital officer, Valerie Kay, will be February 25, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1409970/000140997023000003/0001409970-23-000003-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"departed"},{"label":"Role","value":"Chief Capital Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}