Micah S. Davis - May 16, 2023 Form 3 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Marketing & Comm Officer
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Stock symbol
LOB
Transactions as of
May 16, 2023
Transactions value $
$0
Form type
3
Date filed
5/16/2023, 05:06 PM
Next filing
Feb 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LOB Voting Common Stock 49.2K May 16, 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
holding LOB Restricted Stock Units May 16, 2023 Voting Common Stock 4.01K Direct F1, F2
holding LOB Restricted Stock Units May 16, 2023 Voting Common Stock 3K Direct F2, F3
holding LOB Restricted Stock Units May 16, 2023 Voting Common Stock 3.79K Direct F2, F4
holding LOB Restricted Stock Units May 16, 2023 Voting Common Stock 11.4K Direct F2, F5
holding LOB Employee Stock Option (right to buy) May 16, 2023 Voting Common Stock 6.5K $17.00 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 2,003 of the restricted stock units ("RSUs") will vest on February 10, 2024 and 2,002 of the RSUs will vest on February 10, 2025, 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 1,000 of the RSUs will vest on each of February 22, 2024, 2025 and 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
F4 948 of the RSUs will vest on each of February 14, 2024, 2025, 2026 and 2027, 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 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
F6 The shares subject to this option vested and became exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vested on each of July 22, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on July 22, 2021; and 25% of the shares subject to the option vested on July 22, 2022.