Stephanie Mann - 15 Feb 2023 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Strategy Officer
Signature: /s/ Jonathan A. Greene, by Power of Attorney
Issuer symbol: LOB
Transactions as of: 15 Feb 2023
Net transactions value: -$19,363
Form type: 4
Filing time: 16 Feb 2023, 17:08:00 UTC
Previous filing: 14 Feb 2023
Next filing: 24 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		+1,580	+11%		16,418	15 Feb 2023	Direct	F1
transaction	LOB	Voting Common Stock	Tax liability	$19,363	-549	-3.3%	$35.27	15,869	15 Feb 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	-1,580	-20%	$0.000000	6,320	15 Feb 2023	Voting Common Stock	1,580		Direct	F1, F2
holding	LOB	Restricted Stock Units						7,787	15 Feb 2023	Voting Common Stock	7,787		Direct	F1, F3
holding	LOB	Restricted Stock Units						348	15 Feb 2023	Voting Common Stock	348		Direct	F1, F4
holding	LOB	Restricted Stock Units						8,000	15 Feb 2023	Voting Common Stock	8,000		Direct	F1, F5
holding	LOB	Restricted Stock Units						59,743	15 Feb 2023	Voting Common Stock	59,743		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	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	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.
F4	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.
F5	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.
F6	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.