Filing Details

Accession Number:
0001209191-18-045300
Form Type:
4
Zero Holdings:
No
Publication Time:
2018-08-03 16:38:27
Reporting Period:
2018-08-01
Accepted Time:
2018-08-03 16:38:27
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 2018-08-01 3,494 $28.62 290,960 No 4 S Direct
Voting Common Stock Disposition 2018-08-02 3,404 $29.37 287,556 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
  1. 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.
  2. This transaction was executed in multiple trades ranging from $28.60 to $28.67. 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 full information regarding the number of shares and prices at which the transactions were effected.
  3. This transaction was executed in multiple trades ranging from $29.37 to $29.50. 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 full information regarding the number of shares and prices at which the transactions were effected.
  4. ch 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.
  5. 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.