Stephanie Mann - Feb 10, 2023 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Strategy Officer
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Stock symbol
LOB
Transactions as of
Feb 10, 2023
Transactions value $
-$15,384
Form type
4
Date filed
2/14/2023, 08:10 PM
Previous filing
Nov 29, 2022
Next filing
Feb 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Options Exercise +1.11K +7.94% 15.1K Feb 10, 2023 Direct F1
transaction LOB Voting Common Stock Tax liability -$13.3K -387 -2.56% $34.34 14.7K Feb 10, 2023 Direct
transaction LOB Voting Common Stock Options Exercise +173 +1.17% 14.9K Feb 10, 2023 Direct F1
transaction LOB Voting Common Stock Tax liability -$2.09K -61 -0.41% $34.34 14.8K Feb 10, 2023 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 -1.11K -12.5% $0.00 7.79K Feb 10, 2023 Voting Common Stock 1.11K Direct F1, F2
transaction LOB Restricted Stock Units Options Exercise $0 -173 -33.21% $0.00 348 Feb 10, 2023 Voting Common Stock 173 Direct F1, F3
transaction LOB Restricted Stock Units Award $0 +59.7K $0.00 59.7K Feb 13, 2023 Voting Common Stock 59.7K Direct F1, F4
holding LOB Restricted Stock Units 7.9K Feb 10, 2023 Voting Common Stock 7.9K Direct F1, F5
holding LOB Restricted Stock Units 8K Feb 10, 2023 Voting Common Stock 8K Direct F1, F6
* 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 1,112 of the RSUs will vest on each of February 10, 2023 and 2025; 1,113 of the RSUs will vest on February 10, 2024; 2,780 of the RSUs will vest on February 10, 2026; and 2,782 of the RSUs will vest on February 10, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
F3 173 of the RSUs will vest on February 10, 2023 and 174 of the RSUs will vest on each of February 10, 2024 and 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 pro rata installments beginning on February 13, 2024, 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.
F6 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.