Filing Details

Accession Number:
0001209191-18-034143
Form Type:
4
Zero Holdings:
No
Publication Time:
2018-05-30 16:41:42
Reporting Period:
2018-05-25
Accepted Time:
2018-05-30 16:41:42
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
1648793 A. Thomas Hill 1741 Tiburon Drive
Wilmington NC 28403
Chief Information 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 2018-05-25 8,000 $29.55 7,824 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 Performance Restricted Stock Units $0.00 2023-11-30 15,000 15,000 Direct
Voting Common Stock Performance Restricted Stock Units $0.00 2024-01-31 2,214 2,214 Direct
Voting Common Stock Employee Stock Option (right to buy) $4.40 2024-03-26 30,750 30,750 Direct
Voting Common Stock Employee Stock Option (right to buy) $17.00 2025-07-22 26,000 26,000 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2023-11-30 15,000 15,000 Direct
2024-01-31 2,214 2,214 Direct
2024-03-26 30,750 30,750 Direct
2025-07-22 26,000 26,000 Direct
Footnotes
  1. Each performance restricted 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.
  2. 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.
  3. The shares subject to this option vest and become exercisable yearly in seven installments beginning on March 26, 2015, as follows: 10% of the shares subject to the option vest on each of March 26, 2015, 2016, 2017, 2018, and 2019; and 25% of the shares subject to the option vest on each of March 26, 2020 and 2021.
  4. The shares subject to this option vest and become exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vest on each of July 22, 2016, 2017, 2018, 2019,and 2020; and 25% of the shares subject to the option vest on each of July 22, 2021 and 2022.