JOHN W. SUTHERLAND - 10 Feb 2025 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
10 Feb 2025
Net transactions value
-$8,068
Form type
4
Filing time
12 Feb 2025, 19:12:28 UTC
Previous filing
18 Nov 2024
Next filing
14 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 Options Exercise +461 +4.2% 11,476 10 Feb 2025 Direct F1
transaction LOB Voting Common Stock Tax liability $8,068 -230 -2% $35.08 11,246 10 Feb 2025 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 Award $0 +2,850 $0.000000 2,850 10 Feb 2025 Voting Common Stock 2,850 Direct F1, F2
transaction LOB Restricted Stock Units Options Exercise $0 -461 -100% $0.000000 0 10 Feb 2025 Voting Common Stock 461 Direct F1, F3
holding LOB Restricted Stock Units 356 10 Feb 2025 Voting Common Stock 356 Direct F1, F4
holding LOB Restricted Stock Units 948 10 Feb 2025 Voting Common Stock 948 Direct F1, F5
holding LOB Restricted Stock Units 2,845 10 Feb 2025 Voting Common Stock 2,845 Direct F1, F6
holding LOB Restricted Stock Units 4,381 10 Feb 2025 Voting Common Stock 4,381 Direct F1, F7
holding LOB Employee Stock Option (right to buy) 3,000 10 Feb 2025 Voting Common Stock 3,000 $17.00 Direct F8
* 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 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
F3 460 of the RSUs vested on each of February 10, 2021 and 2022 and February 12, 2024; and 461 of the RSUs vested on each of February 10, 2023 and 2025.
F4 The RSUs vest in five pro rata 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 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.
F8 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.