4//SEC Filing
Smits Steve 4
Accession 0001578563-23-000102
CIK 0001462120other
Filed
Dec 6, 7:00 PM ET
Accepted
Dec 7, 5:02 PM ET
Size
16.2 KB
Accession
0001578563-23-000102
Insider Transaction Report
Form 4
Smits Steve
Chief Credit Officer
Transactions
- Sale
Voting Common Stock
2023-12-07$36.25/sh−10,000$362,452→ 145,751 total(indirect: By Trust) - Sale
Voting Common Stock
2023-12-05$35.62/sh−15,000$534,359→ 155,751 total(indirect: By Trust)
Holdings
- 6,007
Restricted Stock Units
→ Voting Common Stock (6,007 underlying) - 7,502
Employee Stock Option (right to buy)
Exercise: $17.00Exp: 2025-07-22→ Voting Common Stock (7,502 underlying) - 6,320
Restricted Stock Units
→ Voting Common Stock (6,320 underlying) - 5,001
Employee Stock Option (right to buy)
Exercise: $10.63Exp: 2025-02-20→ Voting Common Stock (5,001 underlying) - 3,000
Restricted Stock Units
→ Voting Common Stock (3,000 underlying) - 12,802
Restricted Stock Units
→ Voting Common Stock (12,802 underlying)
Footnotes (9)
- [F1]This transaction was executed in multiple trades at prices ranging from $35.5578 to $35.7561. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
- [F2]This transaction was executed in multiple trades at prices ranging from $36.2390 to $36.2639. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
- [F3]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- [F4]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.
- [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.
- [F6]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.
- [F7]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.
- [F8]The shares subject to this option vest and become 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.
- [F9]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
- Dec 6, 7:00 PM ET
- Accepted
- Dec 7, 5:02 PM ET
- Size
- 16.2 KB