William Henderson Cameron - 14 Dec 2021 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Director
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Issuer symbol
LOB
Transactions as of
14 Dec 2021
Net transactions value
$0
Form type
4
Filing time
20 Dec 2021, 16:21:38 UTC
Previous filing
27 Jan 2022
Next filing
03 May 2022
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 Gift $0 +2,497 +1.6% $0.000000 157,194 14 Dec 2021 By William H. Cameron Revocable Trust F1
holding LOB Voting Common Stock 470 14 Dec 2021 By GST-Exempt Trust

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 1,229 14 Dec 2021 Voting Common Stock 1,229 Direct F2, F3
holding LOB Stock Option (right to buy) 30,000 14 Dec 2021 Voting Common Stock 30,000 $4.40 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 13, 2018, the Reporting Person contributed 33,000 shares to a Grantor Retained Annuity Trust (the "GRAT"). On December 14, 2021, the trustee of the GRAT distributed 2,497 shares to the Reporting Person's Revocable Trust in satisfaction of the GRAT's annuity obligation to the Reporting Person.
F2 Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares, Inc. voting common stock.
F3 The restricted stock units vest on May 1, 2022.
F4 The shares subject to this option vested and became exercisable yearly in seven installments beginning on March 26, 2015, as follows: 10% of the shares subject to the option vested on each of March 26, 2015, 2016, 2017, 2018, and 2019; and 25% of the shares subject to the option vested on each of March 26, 2020 and 2021.