Gregory W. Seward - Feb 23, 2024 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Signature
/s/ Jonathan A. Greene, By Power of Attorney
Stock symbol
LOB
Transactions as of
Feb 23, 2024
Transactions value $
-$17,489
Form type
4
Date filed
2/26/2024, 05:17 PM
Previous filing
Feb 16, 2024
Next filing
Nov 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOB Voting Common Stock Options Exercise +1K +1.04% 97.3K Feb 23, 2024 Direct F1
transaction LOB Voting Common Stock Tax liability -$17.5K -445 -0.46% $39.30 96.9K Feb 23, 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 -1K -33.33% $0.00 2K Feb 23, 2024 Voting Common Stock 1K Direct F1, F2
holding LOB Restricted Stock Units 2K Feb 23, 2024 Voting Common Stock 2K Direct F1, F3
holding LOB Restricted Stock Units 7.11K Feb 23, 2024 Voting Common Stock 7.11K Direct F1, F4
holding LOB Restricted Stock Units 47.8K Feb 23, 2024 Voting Common Stock 47.8K Direct F1, F5
holding LOB Restricted Stock Units 13.8K Feb 23, 2024 Voting Common Stock 13.8K Direct F1, F6
holding LOB Employee Stock Option (right to buy) 13.5K Feb 23, 2024 Voting Common Stock 13.5K $14.55 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 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.
F3 2,002 of the RSUs vested on each of February 10, 2022 and 2023, and 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.
F4 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.
F5 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.
F6 The RSUs vest in five equal 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.
F7 The shares subject to this option vest and become exercisable yearly in seven installments beginning on November 19, 2016, as follows: 10% of the shares subject to the option vested on each of November 19, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on each of November 19, 2021 and November 19, 2022.