JOHN W. SUTHERLAND - 15 Nov 2024 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Accounting Officer
Signature: /s/ Jonathan A. Greene, By Power of Attorney
Issuer symbol: LOB
Transactions as of: 15 Nov 2024
Net transactions value: $0
Form type: 4
Filing time: 18 Nov 2024, 16:39:56 UTC
Previous filing: 15 Nov 2024
Next filing: 12 Feb 2025
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	Gift	$0	-3,000	-21%	$0.000000	11,015	15 Nov 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						461	15 Nov 2024	Voting Common Stock	461		Direct	F1, F2
holding	LOB	Restricted Stock Units						356	15 Nov 2024	Voting Common Stock	356		Direct	F1, F3
holding	LOB	Restricted Stock Units						948	15 Nov 2024	Voting Common Stock	948		Direct	F1, F4
holding	LOB	Restricted Stock Units						2,845	15 Nov 2024	Voting Common Stock	2,845		Direct	F1, F5
holding	LOB	Restricted Stock Units						4,381	15 Nov 2024	Voting Common Stock	4,381		Direct	F1, F6
holding	LOB	Employee Stock Option (right to buy)						3,000	15 Nov 2024	Voting Common Stock	3,000	$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 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.
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 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 pro rata 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 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.