Smits Steve 4
4 · Live Oak Bancshares, Inc. · Filed Feb 26, 2024
Insider Transaction Report
Form 4
Smits Steve
Chief Credit Officer
Transactions
- Tax Payment
Voting Common Stock
2024-02-23$39.30/sh−445$17,489→ 150,132 total(indirect: By Trust) - Exercise/Conversion
Restricted Stock Units
2024-02-23−1,000→ 2,000 total→ Voting Common Stock (1,000 underlying) - Exercise/Conversion
Voting Common Stock
2024-02-23+1,000→ 150,577 total(indirect: By Trust)
Holdings
- 3,004
Restricted Stock Units
→ Voting Common Stock (3,004 underlying) - 4,740
Restricted Stock Units
→ Voting Common Stock (4,740 underlying) - 13,144
Restricted Stock Units
→ Voting Common Stock (13,144 underlying) - 10,242
Restricted Stock Units
→ Voting Common Stock (10,242 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 (8)
- [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 22, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F3]3,003 of the RSUs vested on each of February 10, 2022 and 2023, and February 12, 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 14, 2023, 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 annual 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 RSUs vest in five pro rata annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
- [F7]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.
- [F8]The shares subject to this option vest and become 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.