- Accession Number:
- Form Type:
- Zero Holdings:
- Publication Time:
- 2021-02-03 17:21:06
- Reporting Period:
- Accepted Time:
- 2021-02-03 17:21:06
- SEC Url:
- Form 4 Filing
|Cik||Name||Symbol||Sector (SIC)||IRS No|
|1462120||Live Oak Bancshares Inc.||LOB||State Commercial Banks (6022)||264596286|
|Cik||Name||Reported Address||Insider Title||Director||Officer||Large Shareholder||Other|
|1737875||N Susan Janson||1741 Tiburon Drive |
Wilmington NC 28403
|Chief Risk Off., Live Oak Bank||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||2021-02-01||3,500||$40.09||30,460||No||4||S||Direct|
|Equity Swap Involved||Form Type||Code||Nature of Ownership||Explanation|
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||2028-05-14||18,750||18,750||Direct|
|Voting Common Stock||Restricted Stock Units||$0.00||10,011||10,011||Direct|
|Expiration Date||Amount||Remaning Holdings||Nature of Ownership|
- This transaction was executed in multiple trades at prices ranging from $40.09 to $40.11. 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 restricted stock unit ("PRSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. In order for the PRSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $48.00 per share for at least twenty (20) consecutive trading days at any time prior to May 14, 2028.
- Each restricted stock unit ("RSU") represents a right to receive one share of the Company's voting common stock.
- The RSUs vest in five equal annual installments beginning on February 10, 2021, subject to the reporting person's continuous service to the Company or a related entity on such date.