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Home > Insider Trading > Filing (0001209191-18-062759)

Filing Details

Accession Number:
0001209191-18-062759
Form Type:
4
Zero Holdings:
No
Publication Time:
2018-12-14 16:52:00
Reporting Period:
2018-12-12
Accepted Time:
2018-12-14 16:52:00
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
1656656 W Gregory Seward 1741 Tiburon Drive
Wilmington NC 28403		 General Counsel No Yes No No
Reported Non-Derivative Transactions
Show Other Fields >>
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Voting Common Stock Acquisiton 2018-12-12 188 $14.95 10,188 No 4 P Direct
Voting Common Stock Acquisiton 2018-12-13 958 $15.25 11,146 No 4 P Direct
Voting Common Stock Acquisiton 2018-12-14 854 $16.04 12,000 No 4 P Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Direct
No 4 P Direct
No 4 P Direct
Reported Derivative Holdings
Show Other Fields >>
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Voting Common Stock Performance Restricted Stock Units $0.00 2025-08-10 40,000 40,000 Direct
Voting Common Stock Performance Restricted Stock Units $0.00 2023-11-30 25,000 25,000 Direct
Voting Common Stock Performance Restricted Stock Units $0.00 2024-01-31 2,636 2,636 Direct
Voting Common Stock Performance Restricted Stock Units $0.00 2024-08-07 50,000 50,000 Direct
Voting Common Stock Employee Stock Option (right to buy) $14.55 2025-11-19 30,000 30,000 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2025-08-10 40,000 40,000 Direct
2023-11-30 25,000 25,000 Direct
2024-01-31 2,636 2,636 Direct
2024-08-07 50,000 50,000 Direct
2025-11-19 30,000 30,000 Direct
Footnotes
  1. This transaction was executed in multiple trades at prices ranging from $15.249 to $15.255. 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 trades were effected.
  2. Each performance restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. A portion of the RSUs will vest if the Company's voting common stock attains various closing prices for at least twenty consecutive trading days at any time prior to August 10, 2025, in accordance with the following: 2.5% of the RSUs will vest upon the attainment of closing stock prices of $35.00 per share, $40.00 per share, $45.00 per share, and $50.00 per share, and 90% of the RSUs will vest upon the attainment of a closing stock price of $55.00 per share.
  3. 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 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.
  4. 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.
  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 July 1, 2017 through June 30, 2018. 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 August 7, 2024.
  6. The shares subject to this option vest and become exercisable yearly in seven installments beginning on November 19, 2016, as follows: 10% of the shares subject to the option vest on each of November 19, 2016, 2017, 2018, 2019,and 2020; and 25% of the shares subject to the option vest on each of November 19, 2021 and 2022.