Stephanie Mann - 14 Feb 2024 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Strategy Officer
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Issuer symbol
LOB
Transactions as of
14 Feb 2024
Net transactions value
-$160,223
Form type
4
Filing time
16 Feb 2024, 17:56:31 UTC
Previous filing
14 Feb 2024
Next filing
26 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 +11,948 +66% 30,067 14 Feb 2024 Direct F1
transaction LOB Voting Common Stock Tax liability $139,088 -3,608 -12% $38.55 26,459 14 Feb 2024 Direct
transaction LOB Voting Common Stock Options Exercise +1,580 +6% 28,039 15 Feb 2024 Direct F1
transaction LOB Voting Common Stock Tax liability $21,134 -539 -1.9% $39.21 27,500 15 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 -11,948 -20% $0.000000 47,795 14 Feb 2024 Voting Common Stock 11,948 Direct F1, F2
transaction LOB Restricted Stock Units Options Exercise $0 -1,580 -25% $0.000000 4,740 15 Feb 2024 Voting Common Stock 1,580 Direct F1, F3
holding LOB Restricted Stock Units 6,674 14 Feb 2024 Voting Common Stock 6,674 Direct F1, F4
holding LOB Restricted Stock Units 174 14 Feb 2024 Voting Common Stock 174 Direct F1, F5
holding LOB Restricted Stock Units 6,000 14 Feb 2024 Voting Common Stock 6,000 Direct F1, F6
holding LOB Restricted Stock Units 11,266 14 Feb 2024 Voting Common Stock 11,266 Direct F1, 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 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.
F3 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.
F4 1,112 of the RSUs will vest on each of February 10, 2023 and 2025; 1,113 of the RSUs vested on February 12, 2024; 2,780 of the RSUs will vest on February 10, 2026; and 2,782 of the RSUs will vest on February 10, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
F5 173 of the RSUs vested on February 10, 2023, 174 of the RSUs vested on February 12, 2024 and 174 of the RSUs will vest on on February 10, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
F6 2,000 of the RSUs will vest on each of February 22, 2023, 2024, 2025, and 2026, 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 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.