Susan N. Janson - 22 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
22 Feb 2022
Net transactions value
-$5,805
Form type
4
Filing time
24 Feb 2022, 16:05:21 UTC
Previous filing
16 Feb 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 Options Exercise +394 +1.3% 30,446 22 Feb 2022 Direct F1
transaction LOB Voting Common Stock Tax liability $5,805 -96 -0.32% $60.47 30,350 22 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 Options Exercise $0 -394 -20% $0.000000 1,579 22 Feb 2022 Voting Common Stock 394 Direct F1, F2
holding LOB Restricted Stock Units 6,007 22 Feb 2022 Voting Common Stock 6,007 Direct F1, F3
holding LOB Restricted Stock Units 3,555 22 Feb 2022 Voting Common Stock 3,555 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.