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Former LendingClub CEO planning to sell $20.1M of stock

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Former LendingClub CEO planning to sell $20.1M of stock

Renaud Laplanche, formerLendingClub Corp.chairman and CEO, plans to execute options for 4.63 million shares of thecompany, Bloomberg News reported, citing a June 29 regulatory filing.

The stock being sold is valued at$20.1 million, according to the report.

According to an earlier Bloombergreport, Laplanche sold1.2 million shares with a value of about $5.3 million.

Laplanche in May after aninternal review found the company sold $22 million in near-prime loans toJefferies LLC againstthe investment bank's wishes.