Gregory W. Seward - 01 Dec 2021 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
General Counsel
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Issuer symbol
LOB
Transactions as of
01 Dec 2021
Net transactions value
-$384,753
Form type
4
Filing time
03 Dec 2021, 16:02:46 UTC
Previous filing
08 Nov 2021
Next filing
15 Dec 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Options Exercise $72,750 +5,000 +6.8% $14.55 78,180 01 Dec 2021 Direct
transaction LOB Voting Common Stock Sale $457,503 -5,000 -6.4% $91.50 73,180 01 Dec 2021 Direct F1
transaction LOB Voting Common Stock Gift $0 -225 -0.31% $0.000000 72,955 03 Dec 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
transaction LOB Employee Stock Option (right to buy) Options Exercise $0 -5,000 -17% $0.000000 25,000 01 Dec 2021 Voting Common Stock 5,000 $14.55 Direct F2
holding LOB Restricted Stock Units 8,009 01 Dec 2021 Voting Common Stock 8,009 Direct F3, F4
holding LOB Restricted Stock Units 5,000 01 Dec 2021 Voting Common Stock 5,000 Direct F3, F5
* 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 $91.32 to $91.96. 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 trades were effected.
F2 The shares subject to this option vest and become exercisable yearly in seven installments beginning on November 19, 2016, as follows: 10% of the shares subject to the option vested on each of November 19, 2016, 2017, 2018, 2019,and 2020; and 25% of the shares subject to the option vest on each of November 19, 2021 and 2022.
F3 Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F4 2,002 of the RSUs will vest on each of February 10, 2022, 2023, and 2024; and 2,003 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.
F5 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.