Courtney Spencer - 24 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
24 Feb 2025
Net transactions value
-$28,439
Form type
4
Filing time
25 Feb 2025, 17:52:46 UTC
Previous filing
18 Feb 2025
Next filing
28 Jan 2026
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 +2,000 +10% 21,749 24 Feb 2025 Direct F1
transaction LOB Voting Common Stock Tax liability $28,439 -889 -4.1% $31.99 20,860 24 Feb 2025 Direct
holding LOB Voting Common Stock 154 24 Feb 2025 By Spouse F2

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 -2,000 -50% $0.000000 2,000 24 Feb 2025 Voting Common Stock 2,000 Direct F1, F3
holding LOB Restricted Stock Units 3,160 24 Feb 2025 Voting Common Stock 3,160 Direct F1, F4
holding LOB Restricted Stock Units 8,535 24 Feb 2025 Voting Common Stock 8,535 Direct F1, F5
holding LOB Restricted Stock Units 8,512 24 Feb 2025 Voting Common Stock 8,512 Direct F1, F6
holding LOB Restricted Stock Units 7,126 24 Feb 2025 Voting Common Stock 7,126 Direct F1, F7
holding LOB Stock Option (right to buy) 14,000 24 Feb 2025 Voting Common Stock 14,000 $13.59 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 additional 1.7958 shares reported here were inadvertently omitted from prior filings due to automatic reinvestments that occurred at various times.
F3 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.
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 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.
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 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.
F8 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 vested on February 16, 2023.