Gregory W. Seward - Feb 10, 2022 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
General Counsel
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Stock symbol
LOB
Transactions as of
Feb 10, 2022
Transactions value $
-$41,737
Form type
4
Date filed
2/14/2022, 05:42 PM
Previous filing
Dec 15, 2021
Next filing
Feb 16, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Options Exercise +2K +2.5% 82.1K Feb 10, 2022 Direct F1
transaction LOB Voting Common Stock Tax liability -$41.7K -677 -0.82% $61.65 81.4K Feb 10, 2022 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 Restricted Stock Units Options Exercise $0 -2K -25% $0.00 6.01K Feb 10, 2022 Voting Common Stock 2K Direct F1, F2
holding LOB Restricted Stock Units 5K Feb 10, 2022 Voting Common Stock 5K Direct F1, F3
holding LOB Employee Stock Option (right to buy) 16.5K Feb 10, 2022 Voting Common Stock 16.5K $14.55 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F2 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.
F3 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.
F4 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; 25% of the shares subject to the option vested on November 19, 2021; and 25% of the shares subject to the option will vest on November 19, 2022.