Courtney Spencer - 01 Jul 2022 Form 3/A - Amendment Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Experience Officer
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Issuer symbol
LOB
Transactions as of
01 Jul 2022
Net transactions value
$0
Form type
3/A - Amendment
Filing time
29 Nov 2022, 16:16:46 UTC
Date Of Original Report
11 Jul 2022
Next filing
29 Nov 2022
SEC
View on sec.gov

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
holding LOB Restricted Stock Units 01 Jul 2022 Voting Common Stock 720 Direct F1, F2
holding LOB Restricted Stock Units 01 Jul 2022 Voting Common Stock 6,007 Direct F2, F3
holding LOB Restricted Stock Units 01 Jul 2022 Voting Common Stock 8,000 Direct F2, F4
holding LOB Restricted Stock Units 01 Jul 2022 Voting Common Stock 7,900 Direct F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 360 of the restricted stock units (the "RSUs") will vest on each of November 19, 2022 and 2023, subject to the reporting person's continuous service to Live Oak Bancshares, Inc. (the "Company") or a related entity on such date.
F2 Each RSU represents a contingent right to receive one share of the Company's voting common stock.
F3 2,002 of the RSUs will vest on each of February 10, 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 2,000 of the RSUs will vest on each of February 22, 2023, 2024, 2025, and 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
F5 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.

Remarks:

The restricted stock units included in Table II were inadvertently omitted from the reporting person's Form 3 filed on July 11, 2022.