Courtney Spencer - 14 Feb 2025 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Experience Officer
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Issuer symbol
LOB
Transactions as of
14 Feb 2025
Net transactions value
-$67,992
Form type
4
Filing time
18 Feb 2025, 20:40:01 UTC
Previous filing
14 Feb 2025
Next filing
25 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 +2,845 +16% 20,136 14 Feb 2025 Direct F1
transaction LOB Voting Common Stock Tax liability $44,139 -1,264 -6.3% $34.92 18,872 14 Feb 2025 Direct
transaction LOB Voting Common Stock Options Exercise +1,580 +8.4% 20,452 14 Feb 2025 Direct F1
transaction LOB Voting Common Stock Tax liability $23,853 -703 -3.4% $33.93 19,749 14 Feb 2025 Direct
holding LOB Voting Common Stock 152 14 Feb 2025 By Spouse

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 -2,845 -25% $0.000000 8,535 14 Feb 2025 Voting Common Stock 2,845 Direct F1, F2
transaction LOB Restricted Stock Units Options Exercise $0 -1,580 -33% $0.000000 3,160 14 Feb 2025 Voting Common Stock 1,580 Direct F1, F3
holding LOB Restricted Stock Units 4,000 14 Feb 2025 Voting Common Stock 4,000 Direct F1, F4
holding LOB Restricted Stock Units 7,126 14 Feb 2025 Voting Common Stock 7,126 Direct F1, F5
holding LOB Restricted Stock Units 8,512 14 Feb 2025 Voting Common Stock 8,512 Direct F1, F6
holding LOB Stock Option (right to buy) 14,000 14 Feb 2025 Voting Common Stock 14,000 $13.59 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 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 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.
F5 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.
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 vested and became exercisable yearly in seven installments beginning on February 16, 2017, as follows: 10% of the shares subject to the option vested on each of February 16, 2017, 2018, 2019, 2020, and 2021; 25% of the shares subject to the option vested on February 16, 2022; and 25% of the shares subject to the option vest on February 16, 2023.