4//SEC Filing
Underwood Neil Lawrence 4
Accession 0001209191-20-060626
CIK 0001462120other
Filed
Nov 26, 7:00 PM ET
Accepted
Nov 27, 2:01 PM ET
Size
10.5 KB
Accession
0001209191-20-060626
Insider Transaction Report
Form 4
Underwood Neil Lawrence
DirectorPresident
Transactions
- Exercise/Conversion
Performance Restricted Stock Units
2020-11-24−600,000→ 0 total→ Voting Common Stock (600,000 underlying) - Exercise/Conversion
Voting Common Stock
2020-11-24+600,000→ 600,000 total - Tax Payment
Voting Common Stock
2020-11-24$46.09/sh−268,200$12,361,338→ 331,800 total
Holdings
- 50,000(indirect: By Trust)
Voting Common Stock
- 1,350,434(indirect: By Trust)
Voting Common Stock
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.
- [F2]The RSUs vested on November 24, 2020. The vesting of the RSUs was subject to the Company achieving total revenue of at least $100 million for fiscal year 2016. This condition was satisfied as of December 31, 2016. Vesting was also contingent upon the Company's voting common stock obtaining a closing price equal to or greater than $34.00 per share for at least 20 consecutive trading days at any time prior to March 23, 2023. On November 24, 2020, the compensation committee of the Company's board of directors certified that this stock price condition had been satisfied and that the RSUs were vested.
Documents
Issuer
Live Oak Bancshares, Inc.
CIK 0001462120
Entity typeother
Related Parties
1- filerCIK 0001337412
Filing Metadata
- Form type
- 4
- Filed
- Nov 26, 7:00 PM ET
- Accepted
- Nov 27, 2:01 PM ET
- Size
- 10.5 KB