Courtney Spencer - Nov 20, 2023 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Experience Officer
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Stock symbol
LOB
Transactions as of
Nov 20, 2023
Transactions value $
-$3,575
Form type
4
Date filed
11/21/2023, 04:52 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 Options Exercise +360 +3.45% 10.8K Nov 20, 2023 Direct F1
transaction LOB Voting Common Stock Tax liability -$3.58K -106 -0.98% $33.73 10.7K Nov 20, 2023 Direct
holding LOB Voting Common Stock 152 Nov 20, 2023 By Spouse

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 -360 -100% $0.00* 0 Nov 20, 2023 Voting Common Stock 360 Direct F1, F2
holding LOB Restricted Stock Units 4.01K Nov 20, 2023 Voting Common Stock 4.01K Direct F1, F3
holding LOB Restricted Stock Units 6.32K Nov 20, 2023 Voting Common Stock 6.32K Direct F1, F4
holding LOB Restricted Stock Units 6K Nov 20, 2023 Voting Common Stock 6K Direct F1, F5
holding LOB Restricted Stock Units 14.2K Nov 20, 2023 Voting Common Stock 14.2K Direct F1, F6
holding LOB Stock Option (right to buy) 14K Nov 20, 2023 Voting Common Stock 14K $13.59 Direct F7
* 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 remaining 360 RSUs vested on November 20, 2023.
F3 2,002 of the RSUs will vest on each of February 10, 2023 and 2024 and 2,003 of the RSUs will vest on February 10, 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 14, 2023, 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.
F7 The shares subject to this option vested and became exercisable yearly in seven installments beginning on February 16, 2017, as follows: 10% of the shares subject to the option vested on each of February 16, 2017, 2018, 2019, 2020, and 2021; 25% of the shares subject to the option vested on February 16, 2022; and 25% of the shares subject to the option vested on February 16, 2023.