XML 46 R27.htm IDEA: XBRL DOCUMENT v3.3.1.900
Subsequent Events
12 Months Ended
Dec. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

The Company has evaluated the impact of events that have occurred subsequent to December 31, 2015, through the date the consolidated financial statements were filed with the SEC. Based on this evaluation, other than as recorded or disclosed within these consolidated financial statements, related notes or below, the Company has determined none of these events were required to be recognized or disclosed.

On February 9, 2016, the board of directors approved a share repurchase program under which Lending Club may repurchase up to $150 million of the Company’s common shares in open market or privately negotiated transactions in compliance with Securities and Exchange Act Rule 10b-18. This repurchase plan is valid for one year and does not obligate the Company to acquire any particular amount of common stock, and may be suspended at any time at Lending Club’s discretion.