4//SEC Filing
Janson Susan N 4
Accession 0001209191-21-022612
CIK 0001462120other
Filed
Mar 22, 8:00 PM ET
Accepted
Mar 23, 5:33 PM ET
Size
12.1 KB
Accession
0001209191-21-022612
Insider Transaction Report
Form 4
Janson Susan N
Chief Risk Off., Live Oak Bank
Transactions
- Tax Payment
Voting Common Stock
2021-03-19$64.51/sh−8,382$540,723→ 41,998 total - Exercise/Conversion
Performance Restricted Stock Units
2021-03-19−18,750→ 0 totalExp: 2028-05-14→ Voting Common Stock (18,750 underlying) - Exercise/Conversion
Voting Common Stock
2021-03-19+18,750→ 50,380 total
Holdings
- 8,009
Restricted Stock Units
→ Voting Common Stock (8,009 underlying) - 1,973
Restricted Stock Units
→ Voting Common Stock (1,973 underlying)
Footnotes (5)
- [F1]Each performance restricted stock unit ("PRSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- [F2]18,750 of the PRSUs vested on March 19, 2021. The vesting of these PRSUs was contingent upon the Company's voting common stock attaining 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. On March 19, 2021, 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.
- [F3]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Company's voting common stock.
- [F4]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.
- [F5]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.
Documents
Issuer
Live Oak Bancshares, Inc.
CIK 0001462120
Entity typeother
Related Parties
1- filerCIK 0001737875
Filing Metadata
- Form type
- 4
- Filed
- Mar 22, 8:00 PM ET
- Accepted
- Mar 23, 5:33 PM ET
- Size
- 12.1 KB