secwatch.observer — SEC 8-K summary
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Issuer:     LendingClub Corp (LC)
CIK:        0001409970
Form:       8-K
Filed at:   2025-06-05T23:59:59+00:00
Accession:  0001409970-25-000022
Event type: other_material
Sentiment:  neutral
Materiality: 0.15
Item codes: 5.07
LLM model:  deepseek-v4-flash:cloud@v2

LendingClub shareholders reject board declassification and supermajority removal
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- Director nominees Cutler, Morris, Selleck, Whiteside elected with over 65M votes each; 73.44% quorum.
- Advisory say-on-pay passed 63.6M for vs 3.1M against; Deloitte ratifications passed 83.4M for.
- Board declassification proposal failed: 66.2M for but needed 2/3 of all outstanding shares (about 76M).
- Supermajority voting removal proposal also failed: 66.2M for, short of the required two-thirds threshold.
- Both governance amendments required affirmative vote of at least two-thirds of all outstanding shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1409970/000140997025000022/0001409970-25-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1409970/000140997025000022/lc-20250603.htm
  HTML page:      https://secwatch.observer/filing/0001409970-25-000022

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