other material
confidence high
sentiment neutral
materiality 0.15
LendingClub holders reject board declassification and supermajority removal proposals
LendingClub Corp
- Elected directors Syed Faiz Ahmad, Allan Landon, Timothy Mayopoulos with >97% of votes cast.
- Advisory say-on-pay passed with ~67.6M for vs 704k against; ratification of Deloitte approved.
- Declassification proposal needed 2/3 of all outstanding shares; received 66.8M for (60.1% of outstanding), failed.
- Supermajority removal also failed (66.7M for ~60.0% of outstanding); officer exculpation and ESPP extension passed.