Susan N. Janson - Feb 22, 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
Stock symbol: LOB
Transactions as of: Feb 22, 2022
Transactions value $: -$5,805
Form type: 4
Date filed: 2/24/2022, 04:05 PM
Previous 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		+394	+1.31%		30.4K	Feb 22, 2022	Direct	F1
transaction	LOB	Voting Common Stock	Tax liability	-$5.81K	-96	-0.32%	$60.47	30.4K	Feb 22, 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	-394	-19.97%	$0.00	1.58K	Feb 22, 2022	Voting Common Stock	394		Direct	F1, F2
holding	LOB	Restricted Stock Units						6.01K	Feb 22, 2022	Voting Common Stock	6.01K		Direct	F1, F3
holding	LOB	Restricted Stock Units						3.56K	Feb 22, 2022	Voting Common Stock	3.56K		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 22, 2022, 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 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.