John W. Sutherland - Nov 17, 2023 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Accounting Officer
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Stock symbol
LOB
Transactions as of
Nov 17, 2023
Transactions value $
-$669,770
Form type
4
Date filed
11/21/2023, 04:40 PM
Previous filing
Feb 24, 2023
Next filing
Feb 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Sale -$483K -14.6K -19.11% $33.11 61.7K Nov 17, 2023 Direct F1
transaction LOB Voting Common Stock Sale -$187K -5.42K -8.79% $34.50 56.3K Nov 17, 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 921 Nov 17, 2023 Voting Common Stock 921 Direct F2, F3
holding LOB Restricted Stock Units 533 Nov 17, 2023 Voting Common Stock 533 Direct F2, F4
holding LOB Restricted Stock Units 1.26K Nov 17, 2023 Voting Common Stock 1.26K Direct F2, F5
holding LOB Restricted Stock Units 3.36K Nov 17, 2023 Voting Common Stock 3.36K Direct F2, F6
holding LOB Employee Stock Option (right to buy) 3K Nov 17, 2023 Voting Common Stock 3K $17.00 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was executed in multiple trades at prices ranging from $33.00 to $33.235. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
F2 Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F3 460 of the RSUs will vest on February 10, 2022 and 2024; and 461 of the RSUs will vest on February 10, 2023 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 equal annual installments beginning on February 22, 2022, 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 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.
F7 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.