John W. Sutherland - Nov 26, 2021 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Accounting Officer
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Stock symbol
LOB
Transactions as of
Nov 26, 2021
Transactions value $
-$517,855
Form type
4
Date filed
11/30/2021, 04:47 PM
Previous filing
Feb 4, 2022
Next filing
Dec 3, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Sale -$515K -5.69K -8.78% $90.66 59.1K Nov 26, 2021 Direct F1
transaction LOB Voting Common Stock Sale -$2.38K -26 -0.04% $91.40 59K Nov 26, 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding LOB Restricted Stock Units 1.84K Nov 26, 2021 Voting Common Stock 1.84K Direct F2, F3
holding LOB Restricted Stock Units 888 Nov 26, 2021 Voting Common Stock 888 Direct F2, F4
holding LOB Employee Stock Option (right to buy) 10.2K Nov 26, 2021 Voting Common Stock 10.2K $10.63 Direct F5
holding LOB Employee Stock Option (right to buy) 12K Nov 26, 2021 Voting Common Stock 12K $17.00 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was executed in multiple trades at prices ranging from $90.29 to $91.16. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
F2 Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F3 460 of the RSUs will vest on each of February 10, 2022, 2023, and 2024; and 462 of the RSUs will vest on February 10, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
F4 The RSUs vest in five equal annual installments beginning on February 22, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
F5 The shares subject to this option vested and became exercisable yearly in seven installments beginning on September 19, 2015, as follows: 10% of the shares subject to the option vested on each of September 19, 2015, 2016, 2017, 2018, and 2019; and 25% of the shares subject to the option vested on each of September 19, 2020 and 2021.
F6 The shares subject to this option vest and become exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vested on each of July 22, 2016, 2017, 2018, 2019, and 2020; and 25% of the shares subject to the option vest on each of July 22, 2021 and 2022.