4//SEC Filing
Garriott Huntley 4
Accession 0001209191-21-026119
CIK 0001462120other
Filed
Apr 7, 8:00 PM ET
Accepted
Apr 8, 5:32 PM ET
Size
13.5 KB
Accession
0001209191-21-026119
Insider Transaction Report
Form 4
Garriott Huntley
President, Live Oak Bank
Transactions
- Tax Payment
Voting Common Stock
2021-04-06$69.35/sh−44,701$3,100,014→ 368,054 total - Exercise/Conversion
Performance Restricted Stock Units
2021-04-06−100,000→ 0 totalExp: 2029-02-11→ Voting Common Stock (100,000 underlying) - Exercise/Conversion
Voting Common Stock
2021-04-06+100,000→ 412,755 total
Holdings
- 15,000
Restricted Stock Units
→ Voting Common Stock (15,000 underlying) - 500,000
Restricted Stock Units
→ Voting Common Stock (500,000 underlying) - 17,797
Restricted Stock Units
→ Voting Common Stock (17,797 underlying)
Footnotes (6)
- [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]One hundred 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 February 11, 2029. 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]The RSUs vest in equal annual installments beginning on February 11, 2020 as follows: 7,500 shares vest on each of February 11, 2020, 2021, 2022, and 2023.
- [F5]4,449 of the RSUs will vest on each of February 10, 2022, 2023, and 2024; and 4,450 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.
- [F6]100,000 of the RSUs will vest annually beginning on February 22, 2023, 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 0001754522
Filing Metadata
- Form type
- 4
- Filed
- Apr 7, 8:00 PM ET
- Accepted
- Apr 8, 5:32 PM ET
- Size
- 13.5 KB