William C. Losch III - 11 Aug 2022 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Financial Officer
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Issuer symbol
LOB
Transactions as of
11 Aug 2022
Net transactions value
-$673,216
Form type
4
Filing time
12 Aug 2022, 17:57:49 UTC
Previous filing
16 Feb 2022
Next filing
14 Feb 2023
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 +42,000 +431% 51,750 11 Aug 2022 Direct F1
transaction LOB Voting Common Stock Tax liability $673,216 -16,545 -32% $40.69 35,205 11 Aug 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 -42,000 -20% $0.000000 168,000 11 Aug 2022 Voting Common Stock 42,000 Direct F1, F2
holding LOB Restricted Stock Units 6,320 11 Aug 2022 Voting Common Stock 6,320 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.