William C. Losch III - 11 Aug 2023 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Financial Officer
Signature
/s/ Jonathan A. Greene, by Power of Attorney
Issuer symbol
LOB
Transactions as of
11 Aug 2023
Net transactions value
-$633,447
Form type
4
Filing time
14 Aug 2023, 16:51:44 UTC
Previous filing
16 Feb 2023
Next filing
14 Feb 2024
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 +42,000 +116% 78,065 11 Aug 2023 Direct F1
transaction LOB Voting Common Stock Tax liability $633,447 -16,919 -22% $37.44 61,146 11 Aug 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 -42,000 -25% $0.000000 126,000 11 Aug 2023 Voting Common Stock 42,000 Direct F1, F2
holding LOB Restricted Stock Units 5,056 11 Aug 2023 Voting Common Stock 5,056 Direct F1, F3
holding LOB Restricted Stock Units 89,615 11 Aug 2023 Voting Common Stock 89,615 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 August 10, 2022, 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 February 14, 2023, 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.