4//SEC Filing
Smits Steve 4
Accession 0001209191-23-010238
CIK 0001462120other
Filed
Feb 15, 7:00 PM ET
Accepted
Feb 16, 6:12 PM ET
Size
16.5 KB
Accession
0001209191-23-010238
Insider Transaction Report
Form 4
Smits Steve
Chief Credit Officer
Transactions
- Exercise/Conversion
Restricted Stock Units
2023-02-15−1,580→ 6,320 total→ Voting Common Stock (1,580 underlying) - Exercise/Conversion
Voting Common Stock
2023-02-15+1,580→ 170,505 total(indirect: By Trust) - Tax Payment
Voting Common Stock
2023-02-15$35.27/sh−459$16,189→ 170,046 total(indirect: By Trust)
Holdings
- 6,007
Restricted Stock Units
→ Voting Common Stock (6,007 underlying) - 4,000
Restricted Stock Units
→ Voting Common Stock (4,000 underlying) - 12,802
Restricted Stock Units
→ Voting Common Stock (12,802 underlying) - 5,001
Employee Stock Option (right to buy)
Exercise: $10.63Exp: 2025-02-20→ Voting Common Stock (5,001 underlying) - 7,502
Employee Stock Option (right to buy)
Exercise: $17.00Exp: 2025-07-22→ Voting Common Stock (7,502 underlying)
Footnotes (7)
- [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 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F3]3,003 of the RSUs will vest on each of February 10, 2022, 2023, and 2024; and 3,004 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]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.
- [F5]The RSUs vest in five pro rata installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F6]The shares subject to this option vested and became exercisable yearly in seven installments beginning on February 20, 2016, as follows: 10% of the shares subject to the option vested on each of February 20, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on February 20, 2021; and 25% of the shares subject to the option vested on February 20, 2022.
- [F7]The shares subject to this option vested and became exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vested on each of July 22, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on July 22, 2021; and 25% of the shares subject to the option vested on July 22, 2022.
Documents
Issuer
Live Oak Bancshares, Inc.
CIK 0001462120
Entity typeother
Related Parties
1- filerCIK 0001648958
Filing Metadata
- Form type
- 4
- Filed
- Feb 15, 7:00 PM ET
- Accepted
- Feb 16, 6:12 PM ET
- Size
- 16.5 KB