Renato Derraik - Feb 15, 2023 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
Feb 15, 2023
Transactions value $
-$19,363
Form type
4
Date filed
2/16/2023, 05:01 PM
Previous filing
Feb 14, 2023
Next filing
Aug 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Options Exercise +1.58K +9.73% 17.8K Feb 15, 2023 Direct F1
transaction LOB Voting Common Stock Tax liability -$19.4K -549 -3.08% $35.27 17.3K Feb 15, 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 -1.58K -20% $0.00 6.32K Feb 15, 2023 Voting Common Stock 1.58K Direct F1, F2
holding LOB Restricted Stock Units 100K Feb 15, 2023 Voting Common Stock 100K Direct F1, F3
holding LOB Restricted Stock Units 89.6K Feb 15, 2023 Voting Common Stock 89.6K 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 14, 2023, 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 August 10, 2022, 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 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.