Susan N. Janson - 14 Feb 2022 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Risk Off., Live Oak Bank
Signature: /s/ Jonathan A. Greene, by Power of Attorney
Issuer symbol: LOB
Transactions as of: 14 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 16 Feb 2022, 16:59:43 UTC
Previous filing: 14 Feb 2022
Next filing: 24 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LOB	Voting Common Stock						30,052	14 Feb 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	Award	$0	+3,555		$0.000000	3,555	14 Feb 2022	Voting Common Stock	3,555		Direct	F1, F2
holding	LOB	Restricted Stock Units						6,007	14 Feb 2022	Voting Common Stock	6,007		Direct	F1, F3
holding	LOB	Restricted Stock Units						1,973	14 Feb 2022	Voting Common Stock	1,973		Direct	F1, 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	The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
F3	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.
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.