| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | LOB | Voting Common Stock | Sale | -$534K | -15K | -8.78% | $35.62 | 156K | Dec 5, 2023 | By Steven Joseph Smits Revocable Trust | F1 |
| transaction | LOB | Voting Common Stock | Sale | -$362K | -10K | -6.42% | $36.25 | 146K | Dec 7, 2023 | By Steven Joseph Smits Revocable Trust | F2 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | LOB | Restricted Stock Units | 6.01K | Dec 5, 2023 | Voting Common Stock | 6.01K | Direct | F3, F4 | ||||||
| holding | LOB | Restricted Stock Units | 3K | Dec 5, 2023 | Voting Common Stock | 3K | Direct | F3, F5 | ||||||
| holding | LOB | Restricted Stock Units | 6.32K | Dec 5, 2023 | Voting Common Stock | 6.32K | Direct | F3, F6 | ||||||
| holding | LOB | Restricted Stock Units | 12.8K | Dec 5, 2023 | Voting Common Stock | 12.8K | Direct | F3, F7 | ||||||
| holding | LOB | Employee Stock Option (right to buy) | 5K | Dec 5, 2023 | Voting Common Stock | 5K | $10.63 | Direct | F8 | |||||
| holding | LOB | Employee Stock Option (right to buy) | 7.5K | Dec 5, 2023 | Voting Common Stock | 7.5K | $17.00 | Direct | F9 |
| Id | Content |
|---|---|
| F1 | This transaction was executed in multiple trades at prices ranging from $35.5578 to $35.7561. 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 | This transaction was executed in multiple trades at prices ranging from $36.2390 to $36.2639. 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. |
| F3 | Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. |
| F4 | 3,003 of the RSUs will vest on each of February 10, 2022, 2023, and 2024; and 3,004 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. |
| F5 | 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. |
| F6 | 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. |
| F7 | 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. |
| F8 | The shares subject to this option vest and become exercisable yearly in seven installments beginning on February 20, 2016, as follows: 10% of the shares subject to the option vested on each of February 20, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on February 20, 2021; and 25% of the shares subject to the option vested on February 20, 2022. |
| F9 | 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. |