BERNER ROSS 4
4 · Live Oak Acquisition Corp · Filed May 27, 2020
Insider Transaction Report
Form 4
BERNER ROSS
Chief Operating Officer10% Owner
Transactions
- Other
Class B Common Stock
2020-05-22−750,000→ 5,000,000 total(indirect: See Footnote)→ Class A Common Stock (750,000 underlying)
Footnotes (3)
- [F1]As described in the issuer's registration statement on Form S-1 (File No. 333-236800) under the heading "Description of Securities--Founder Shares ", the shares of Class B common stock will automatically convert into shares of Class A common stock at the time of the issuer's initial business combination, on a one-for-one basis, subject to certain adjustments and has no expiration date.
- [F2]As contemplated in connection with the initial public offering of the issuer, 750,000 shares of Class B common stock of the issuer were returned by the reporting person to the issuer for no consideration and cancelled because the underwriters' over-allotment option was not exercised.
- [F3]Ross Berner is the Chief Operating Officer of the issuer. He is also a managing members of the Sponsor and has voting and investment discretion with respect to the securities held by the Sponsor. As such, he may be deemed to share beneficial ownership of the securities held directly by the Sponsor. Mr. Berner disclaims any beneficial ownership of the reported securities other than to the extent of any pecuniary interest they may have therein, directly or indirectly.