Caines S. Brett 4
4 · Live Oak Bancshares, Inc. · Filed Feb 24, 2021
Insider Transaction Report
Form 4
Caines S. Brett
Chief Financial Officer
Transactions
- Award
Restricted Stock Units
2021-02-22+5,000→ 5,000 total→ Voting Common Stock (5,000 underlying)
Holdings
- 311,347
Voting Common Stock
- 8,009
Restricted Stock Units
→ Voting Common Stock (8,009 underlying) - 20,000
Performance Restricted Stock Units
Exp: 2028-08-10→ Voting Common Stock (20,000 underlying)
Footnotes (5)
- [F1]Each 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 vest in five equal annual installments beginning on February 22, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F3]2,002 of the RSUs will vest on each of February 10, 2022, 2023, and 2024; and 2,003 of the RSUs will vest on February 10, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F4]Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of the Company's voting common stock.
- [F5]Ten thousand of the PRSUs will vest upon each attainment of closing prices of the Company's voting common stock of equal to or greater than $50.00 per share and $55.00 per share once they are attained for at least twenty (20) consecutive trading days at any time prior to August 10, 2028.