4//SEC Filing
Live Oak Bancshares, Inc. 4
Accession 0001209191-17-007255
$LOBCIK 0001462120operating
Filed
Feb 1, 7:00 PM ET
Accepted
Feb 2, 6:05 PM ET
Size
10.9 KB
Accession
0001209191-17-007255
Insider Transaction Report
Form 4
Underwood Neil Lawrence
DirectorPresident
Transactions
- Exercise/Conversion
Performance Restricted Stock Units
2017-01-31−435,000→ 0 total→ Voting Common Stock (435,000 underlying) - Tax Payment
Voting Common Stock
2017-01-31$20.45/sh−202,287$4,136,769→ 1,232,723 total - Exercise/Conversion
Voting Common Stock
2017-01-31+435,000→ 1,435,010 total
Holdings
- 50,000(indirect: By Spouse)
Voting Common Stock
- 600,000
Performance Restricted Stock Units
Exp: 2023-03-23→ Voting Common Stock (600,000 underlying)
Footnotes (2)
- [F1]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 was subject to the Company achieving total revenue of at least $100 million for fiscal year 2016.
- [F2]The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for fiscal year 2016. 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 March 23, 2023.
Documents
Issuer
Live Oak Bancshares, Inc.
CIK 0001462120
Entity typeoperating
IncorporatedNC
Related Parties
1- filerCIK 0001462120
Filing Metadata
- Form type
- 4
- Filed
- Feb 1, 7:00 PM ET
- Accepted
- Feb 2, 6:05 PM ET
- Size
- 10.9 KB