Janson Susan N 4
4 · Live Oak Bancshares, Inc. · Filed Feb 24, 2021
Insider Transaction Report
Form 4
Janson Susan N
Chief Risk Off., Live Oak Bank
Transactions
- Award
Restricted Stock Units
2021-02-22+1,973→ 1,973 total→ Voting Common Stock (1,973 underlying)
Holdings
- 8,009
Restricted Stock Units
→ Voting Common Stock (8,009 underlying) - 31,630
Voting Common Stock
- 18,750
Performance Restricted Stock Units
Exp: 2028-05-14→ Voting Common Stock (18,750 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]Eighteen thousand seven hundred fifty of the PRSUs will vest upon the attainment of closing prices of the Company's voting common stock of equal to or greater than $48.00 per share once they are attained for at least twenty (20) consecutive trading days at any time prior to May 14, 2028.