Custer Scott 4
4 · Live Oak Bancshares, Inc. · Filed Aug 9, 2017
Insider Transaction Report
Form 4
Custer Scott
President, Live Oak Bank
Transactions
- Award
Performance Restricted Stock Units
2017-08-07+80,000→ 80,000 totalExp: 2024-08-07→ Voting Common Stock (80,000 underlying)
Holdings
- 80,000
Voting Common Stock
Footnotes (1)
- [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 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.