Filing Details

Accession Number:
0001209191-21-050628
Form Type:
4
Zero Holdings:
No
Publication Time:
2021-08-10 16:54:07
Reporting Period:
2021-08-06
Accepted Time:
2021-08-10 16:54:07
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
1635154 W. John Sutherland 1741 Tiburon Drive
Wilmington NC 28403
Chief Accounting 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 2021-08-06 15,125 $61.54 64,744 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 1,842 1,842 Direct
Voting Common Stock Restricted Stock Units $0.00 888 888 Direct
Voting Common Stock Employee Stock Option (right to buy) $10.63 2024-09-19 10,200 10,200 Direct
Voting Common Stock Employee Stock Option (right to buy) $17.00 2025-07-22 12,000 12,000 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
1,842 1,842 Direct
888 888 Direct
2024-09-19 10,200 10,200 Direct
2025-07-22 12,000 12,000 Direct
Footnotes
  1. This transaction was executed in multiple trades at prices ranging from $61.50 to $61.92. 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.
  2. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
  3. 460 of the RSUs will vest on each of February 10, 2022, 2023, and 2024; and 462 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.
  4. The RSUs vest in five equal annual installments beginning on February 22, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
  5. The shares subject to this option vest and become exercisable yearly in seven installments beginning on September 19, 2015, as follows: 10% of the shares subject to the option vested on each of September 19, 2015, 2016, 2017, 2018, and 2019; and 25% of the shares subject to the option vest on each of September 19, 2020 and 2021.
  6. 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 vested 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.