Renato Derraik - 09 Nov 2023 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Info./Digital Off., Bank
Signature: /s/ Jonathan A. Greene, By Power of Attorney
Issuer symbol: LOB
Transactions as of: 09 Nov 2023
Net transactions value: -$591,258
Form type: 4
Filing time: 13 Nov 2023, 17:31:14 UTC
Previous filing: 14 Aug 2023
Next filing: 14 Feb 2024
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	Sale	$591,258	-20,000	-61%	$29.56	12,928	09 Nov 2023	Direct	F1

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						75,000	09 Nov 2023	Voting Common Stock	75,000		Direct	F2, F3
holding	LOB	Restricted Stock Units						6,320	09 Nov 2023	Voting Common Stock	6,320		Direct	F2, F4
holding	LOB	Restricted Stock Units						89,615	09 Nov 2023	Voting Common Stock	89,615		Direct	F2, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This transaction was executed in multiple trades at prices ranging from $29.43 to $29.73. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
F2	Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F3	The RSUs vest in five equal annual installments beginning on August 10, 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 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.