Filing Details
- Accession Number:
- 0001578563-24-000164
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2024-03-13 17:04:32
- Reporting Period:
- 2024-03-11
- Accepted Time:
- 2024-03-13 17:04:32
- 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 |
|---|---|---|---|---|---|---|---|
| 1977288 | S Micah Davis | 1741 Tiburon Drive Wilmington NC 28403 | Chief Marketing & Comm 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 | 2024-03-11 | 8,613 | $39.87 | 43,864 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | S | Direct |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Voting Common Stock | Restricted Stock Units | $0.00 | 2,003 | 2,003 | Direct | ||
| Voting Common Stock | Restricted Stock Units | $0.00 | 9,104 | 9,104 | Direct | ||
| Voting Common Stock | Restricted Stock Units | $0.00 | 2,844 | 2,844 | Direct | ||
| Voting Common Stock | Restricted Stock Units | $0.00 | 2,000 | 2,000 | Direct | ||
| Voting Common Stock | Restricted Stock Units | $0.00 | 8,763 | 8,763 | Direct | ||
| Voting Common Stock | Employee Stock Option (right to buy) | $17.00 | 2025-07-22 | 6,498 | 6,498 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 2,003 | 2,003 | Direct | |
| 9,104 | 9,104 | Direct | |
| 2,844 | 2,844 | Direct | |
| 2,000 | 2,000 | Direct | |
| 8,763 | 8,763 | Direct | |
| 2025-07-22 | 6,498 | 6,498 | Direct |
Footnotes
- This transaction was executed in multiple trades at prices ranging from $39.84 to $40.045. 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 restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- 2,002 of the RSUs vested on February 12, 2024 and 2,003 of the RSUs will vest on February 10, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
- 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.
- 948 of the RSUs will vest on each of February 14, 2024, 2025, 2026 and 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
- 1,000 of the RSUs will vest on each of February 22, 2024, 2025 and 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- 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.
- 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.
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