Micah S. Davis - 12 Feb 2024 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Marketing & Comm Officer
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Issuer symbol
LOB
Transactions as of
12 Feb 2024
Net transactions value
-$39,242
Form type
4
Filing time
14 Feb 2024, 19:54:45 UTC
Previous filing
16 May 2023
Next filing
16 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Options Exercise +2,002 +4.1% 51,233 12 Feb 2024 Direct F1
transaction LOB Voting Common Stock Tax liability $39,242 -996 -1.9% $39.40 50,237 12 Feb 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
transaction LOB Restricted Stock Units Options Exercise $0 -2,002 -50% $0.000000 2,003 12 Feb 2024 Voting Common Stock 2,002 Direct F1, F2
transaction LOB Restricted Stock Units Award $0 +8,763 $0.000000 8,763 12 Feb 2024 Voting Common Stock 8,763 Direct F1, F3
holding LOB Restricted Stock Units 11,379 12 Feb 2024 Voting Common Stock 11,379 Direct F1, F4
holding LOB Restricted Stock Units 3,792 12 Feb 2024 Voting Common Stock 3,792 Direct F1, F5
holding LOB Restricted Stock Units 3,000 12 Feb 2024 Voting Common Stock 3,000 Direct F1, F6
holding LOB Employee Stock Option (right to buy) 6,498 12 Feb 2024 Voting Common Stock 6,498 $17.00 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 2,002 of the RSUs vested on February 12, 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 pro rata annual installments beginning on February 12, 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 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
F5 948 of the RSUs will vest on each of February 14, 2024, 2025, 2026 and 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
F6 1,000 of the RSUs will vest on each of February 22, 2024, 2025 and 2026, 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.