Walter J. Phifer - Jan 1, 2024 Form 3 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Financial Officer
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Stock symbol
LOB
Transactions as of
Jan 1, 2024
Transactions value $
$0
Form type
3
Date filed
1/11/2024, 09:29 PM
Next filing
Feb 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LOB Voting Common Stock 3.47K Jan 1, 2024 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 Jan 1, 2024 Voting Common Stock 390 Direct F1, F2
holding LOB Restricted Stock Units Jan 1, 2024 Voting Common Stock 206 Direct F2, F3
holding LOB Restricted Stock Units Jan 1, 2024 Voting Common Stock 706 Direct F2, F4
holding LOB Restricted Stock Units Jan 1, 2024 Voting Common Stock 6.29K Direct F2, F5
holding LOB Employee Stock Option (right to buy) Jan 1, 2024 Voting Common Stock 6.16K $13.59 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The restricted stock unit ("RSU") vest in five pro rata installments beginning on February 10, 2021, subject to the reporting person's continuous service to Live Oak Bancshares, Inc. (the "Company") or a related entity on such date.
F2 Each RSU represents a contingent right to receive one share of the Company's voting common stock.
F3 The RSUs vest in five pro rata 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 pro rata installments beginning on December 15, 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 pro rata installments beginning on December 9, 2023, 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 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; and 25% of the shares subject to the option vested on each of February 16, 2022 and 2023.