4//SEC Filing
Caines S. Brett 4
Accession 0001209191-20-062561
CIK 0001462120other
Filed
Dec 8, 7:00 PM ET
Accepted
Dec 9, 5:09 PM ET
Size
10.8 KB
Accession
0001209191-20-062561
Insider Transaction Report
Form 4
Caines S. Brett
Chief Financial Officer
Transactions
- Tax Payment
Voting Common Stock
2020-12-08$41.98/sh−4,470$187,651→ 304,555 total - Exercise/Conversion
Voting Common Stock
2020-12-08+10,000→ 309,025 total - Exercise/Conversion
Performance Restricted Stock Units
2020-12-08−10,000→ 30,000 totalExp: 2028-08-10→ Voting Common Stock (10,000 underlying)
Holdings
- 10,011
Restricted Stock Units
→ Voting Common Stock (10,011 underlying)
Footnotes (4)
- [F1]Each performance restricted stock unit ("PRSU") represents a right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- [F2]Ten thousand of the PRSUs vested on December 8, 2020. The vesting of these PRSUs was contingent upon the Company's voting common stock attaining a closing price equal to or greater than $40.00 per share for at least twenty (20) consecutive trading days at any time prior to August 10, 2028. On December 8, 2020, the compensation committee of the Company's board of directors certified that this stock price condition had been satisfied and that these PRSUs were vested. Ten thousand of the remaining PRSUs will vest upon each attainment of closing stock prices of $45.00 per share, $50.00 per share, and $55.00 per share attained for at least twenty (20) consecutive trading days at any time prior to August 10, 2028.
- [F3]Each restricted stock unit ("RSU") represents a right to receive one share of the Company's voting common stock.
- [F4]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.
Documents
Issuer
Live Oak Bancshares, Inc.
CIK 0001462120
Entity typeother
Related Parties
1- filerCIK 0001647119
Filing Metadata
- Form type
- 4
- Filed
- Dec 8, 7:00 PM ET
- Accepted
- Dec 9, 5:09 PM ET
- Size
- 10.8 KB