Gregory W. Seward - Nov 29, 2023 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
General Counsel
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Stock symbol
LOB
Transactions as of
Nov 29, 2023
Transactions value $
$0
Form type
4
Date filed
12/1/2023, 04:41 PM
Previous filing
Feb 24, 2023
Next filing
Dec 19, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Gift $0 -350 -0.41% $0.00 85.4K Nov 29, 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 4.01K Nov 29, 2023 Voting Common Stock 4.01K Direct F1, F2
holding LOB Restricted Stock Units 3K Nov 29, 2023 Voting Common Stock 3K Direct F1, F3
holding LOB Restricted Stock Units 9.48K Nov 29, 2023 Voting Common Stock 9.48K Direct F1, F4
holding LOB Restricted Stock Units 59.7K Nov 29, 2023 Voting Common Stock 59.7K Direct F1, F5
holding LOB Employee Stock Option (right to buy) 16.5K Nov 29, 2023 Voting Common Stock 16.5K $14.55 Direct 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 2,002 of the RSUs will vest on each of February 10, 2022, 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.
F3 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.
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 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.
F6 The shares subject to this option vested and became exercisable yearly in seven installments beginning on November 19, 2016, as follows: 10% of the shares subject to the option vested on each of November 19, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on November 19, 2021; and 25% of the shares subject to the option vested on November 19, 2022.