4//SEC Filing
SUTHERLAND JOHN W. 4
Accession 0001578563-24-000393
CIK 0001462120other
Filed
Aug 26, 8:00 PM ET
Accepted
Aug 27, 5:15 PM ET
Size
13.9 KB
Accession
0001578563-24-000393
Insider Transaction Report
Form 4
SUTHERLAND JOHN W.
Chief Accounting Officer
Transactions
- Sale
Voting Common Stock
2024-08-23$43.00/sh−20,000$859,976→ 26,603 total
Holdings
- 461
Restricted Stock Units
→ Voting Common Stock (461 underlying) - 2,845
Restricted Stock Units
→ Voting Common Stock (2,845 underlying) - 4,381
Restricted Stock Units
→ Voting Common Stock (4,381 underlying) - 3,000
Employee Stock Option (right to buy)
Exercise: $17.00Exp: 2025-07-22→ Voting Common Stock (3,000 underlying) - 356
Restricted Stock Units
→ Voting Common Stock (356 underlying) - 948
Restricted Stock Units
→ Voting Common Stock (948 underlying)
Footnotes (8)
- [F1]This transaction was executed in multiple trades at prices ranging from $42.84 to $43.25. 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]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- [F3]460 of the RSUs will vest on February 10, 2022 and 2024; and 461 of the RSUs will vest on February 10, 2023 and 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 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.
- [F6]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.
- [F7]The RSUs vest in five pro rata installments beginning on February 12, 2025, 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 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 0001635154
Filing Metadata
- Form type
- 4
- Filed
- Aug 26, 8:00 PM ET
- Accepted
- Aug 27, 5:15 PM ET
- Size
- 13.9 KB