secwatch.observer — SEC 8-K summary
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Issuer:     LendingClub Corp (LC)
CIK:        0001409970
Form:       8-K
Filed at:   2024-06-12T23:59:59+00:00
Accession:  0001409970-24-000034
Event type: other_material
Sentiment:  neutral
Materiality: 0.15
Item codes: 5.07
LLM model:  deepseek-v4-flash:cloud@v2

LendingClub holders reject board declassification and supermajority removal proposals
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1409970/000140997024000034/0001409970-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1409970/000140997024000034/lc-20240611.htm
  HTML page:      https://secwatch.observer/filing/0001409970-24-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer