4//SEC Filing
Caines S. Brett 4
Accession 0001209191-21-026118
CIK 0001462120other
Filed
Apr 7, 8:00 PM ET
Accepted
Apr 8, 5:32 PM ET
Size
12.0 KB
Accession
0001209191-21-026118
Insider Transaction Report
Form 4
Caines S. Brett
Chief Financial Officer
Transactions
- Exercise/Conversion
Voting Common Stock
2021-04-06+10,000→ 326,876 total - Tax Payment
Voting Common Stock
2021-04-06$69.35/sh−4,470$309,995→ 322,406 total - Exercise/Conversion
Performance Restricted Stock Units
2021-04-06−10,000→ 0 totalExp: 2028-08-10→ Voting Common Stock (10,000 underlying)
Holdings
- 5,000
Restricted Stock Units
→ Voting Common Stock (5,000 underlying) - 8,009
Restricted Stock Units
→ Voting Common Stock (8,009 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]Ten thousand of the PRSUs vested on April 6, 2021. The vesting of these PRSUs was contingent upon the Company's voting common stock attaining a closing price equal to or greater than $55.00 per share for at least twenty (20) consecutive trading days at any time prior to August 10, 2028. On April 6, 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 0001647119
Filing Metadata
- Form type
- 4
- Filed
- Apr 7, 8:00 PM ET
- Accepted
- Apr 8, 5:32 PM ET
- Size
- 12.0 KB