John W. Sutherland - Feb 12, 2024 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Accounting Officer
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Stock symbol
LOB
Transactions as of
Feb 12, 2024
Transactions value $
-$9,146
Form type
4
Date filed
2/14/2024, 08:08 PM
Previous filing
Nov 21, 2023
Next filing
Feb 16, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Options Exercise +460 +0.82% 56.7K Feb 12, 2024 Direct F1
transaction LOB Voting Common Stock Tax liability -$9.15K -229 -0.4% $39.94 56.5K Feb 12, 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 -460 -49.95% $0.00 461 Feb 12, 2024 Voting Common Stock 460 Direct F1, F2
transaction LOB Restricted Stock Units Award $0 +4.38K $0.00 4.38K Feb 12, 2024 Voting Common Stock 4.38K Direct F1, F3
holding LOB Restricted Stock Units 533 Feb 12, 2024 Voting Common Stock 533 Direct F1, F4
holding LOB Restricted Stock Units 1.26K Feb 12, 2024 Voting Common Stock 1.26K Direct F1, F5
holding LOB Restricted Stock Units 3.36K Feb 12, 2024 Voting Common Stock 3.36K Direct F1, F6
holding LOB Employee Stock Option (right to buy) 3K Feb 12, 2024 Voting Common Stock 3K $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 460 of the RSUs vested on each of February 10, 2022 and February 12, 2024; and 461 of the RSUs will vest on February 10, 2023 and 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 22, 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 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.
F6 The RSUs vest in five pro rata 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.
F7 The shares subject to this option vest and become 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.