Janson Susan N 4
4 · Live Oak Bancshares, Inc. · Filed Feb 3, 2021
Insider Transaction Report
Form 4
Janson Susan N
Chief Risk Off., Live Oak Bank
Transactions
- Sale
Voting Common Stock
2021-02-01$40.09/sh−3,500$140,318→ 30,460 total
Holdings
- 10,011
Restricted Stock Units
→ Voting Common Stock (10,011 underlying) - 18,750
Performance Restricted Stock Units
Exp: 2028-05-14→ Voting Common Stock (18,750 underlying)
Footnotes (4)
- [F1]This transaction was executed in multiple trades at prices ranging from $40.09 to $40.11. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
- [F2]Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. In order for the PRSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $48.00 per share 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.