Renato Derraik - Aug 11, 2022 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Info./Digital Off., Bank
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Stock symbol
LOB
Transactions as of
Aug 11, 2022
Transactions value $
-$356,322
Form type
4
Date filed
8/12/2022, 05:56 PM
Previous filing
Feb 16, 2022
Next filing
Feb 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Options Exercise +25K 25K Aug 11, 2022 Direct F1
transaction LOB Voting Common Stock Tax liability -$356K -8.76K -35.03% $40.69 16.2K Aug 11, 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 -25K -20% $0.00 100K Aug 11, 2022 Voting Common Stock 25K Direct F1, F2
holding LOB Restricted Stock Units 7.9K Aug 11, 2022 Voting Common Stock 7.9K Direct F1, F3
* 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 August 10, 2022, 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 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.