Filing Details
- Accession Number:
- 0001209191-18-008131
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2018-02-07 16:48:06
- Reporting Period:
- 2018-02-05
- Accepted Time:
- 2018-02-07 16:48:06
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1462120 | Live Oak Bancshares Inc. | LOB | State Commercial Banks (6022) | 264596286 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1647119 | Brett S. Caines | 1741 Tiburon Drive Wilmington NC 28403 | Chief Financial Officer | No | Yes | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Voting Common Stock | Disposition | 2018-02-05 | 3,702 | $27.01 | 415,977 | No | 4 | S | Direct | |
| Voting Common Stock | Disposition | 2018-02-06 | 3,891 | $25.71 | 412,086 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | S | Direct | |
| No | 4 | S | Direct |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Voting Common Stock | Performance Restricted Stock Units | $0.00 | 2023-11-30 | 50,000 | 50,000 | Direct | |
| Voting Common Stock | Performance Restricted Stock Units | $0.00 | 2024-01-31 | 3,427 | 3,427 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 2023-11-30 | 50,000 | 50,000 | Direct |
| 2024-01-31 | 3,427 | 3,427 | Direct |
Footnotes
- The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 8, 2017.
- This transaction was executed in multiple trades at prices ranging from $26.70 to $27.20. 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.
- This transaction was executed in multiple trades at prices ranging from $25.55 to $26.20. 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.
- Each performance restriced stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from October 1, 2016 through September 30, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $34.00 per share for at least twenty (20) consecutive trading days at any time prior to November 30, 2023.
- Each performance RSU represents a contingent right to receive one share of the Company's voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from January 1, 2017 through December 31, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $38.00 per share for at least twenty (20) consecutive trading days at any time prior to January 31, 2024.
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