4//SEC Filing
Janson Susan N 4
Accession 0001209191-20-062567
CIK 0001462120other
Filed
Dec 8, 7:00 PM ET
Accepted
Dec 9, 5:13 PM ET
Size
10.8 KB
Accession
0001209191-20-062567
Insider Transaction Report
Form 4
Janson Susan N
Chief Risk Off., Live Oak Bank
Transactions
- Exercise/Conversion
Voting Common Stock
2020-12-08+18,750→ 32,118 total - Exercise/Conversion
Performance Restricted Stock Units
2020-12-08−18,750→ 37,500 totalExp: 2028-05-14→ Voting Common Stock (18,750 underlying) - Tax Payment
Voting Common Stock
2020-12-08$41.98/sh−8,382$351,876→ 23,736 total
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]18,750 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 May 14, 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. 18,750 of the remaining PRSUs will vest upon each attainment of closing stock prices of $45.00 per share and $48.00 per share once they are attained for at least twenty (20) consecutive trading days at any time prior to May 14, 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 0001737875
Filing Metadata
- Form type
- 4
- Filed
- Dec 8, 7:00 PM ET
- Accepted
- Dec 9, 5:13 PM ET
- Size
- 10.8 KB