Spencer Courtney 4
4 · Live Oak Bancshares, Inc. · Filed Feb 25, 2025
Insider Transaction Report
Form 4
Spencer Courtney
Chief Experience Officer
Transactions
- Exercise/Conversion
Voting Common Stock
2025-02-24+2,000→ 21,749 total - Exercise/Conversion
Restricted Stock Units
2025-02-24−2,000→ 2,000 total→ Voting Common Stock (2,000 underlying) - Tax Payment
Voting Common Stock
2025-02-24$31.99/sh−889$28,439→ 20,860 total
Holdings
- 3,160
Restricted Stock Units
→ Voting Common Stock (3,160 underlying) - 7,126
Restricted Stock Units
→ Voting Common Stock (7,126 underlying) - 8,512
Restricted Stock Units
→ Voting Common Stock (8,512 underlying) - 153.796(indirect: By Spouse)
Voting Common Stock
- 8,535
Restricted Stock Units
→ Voting Common Stock (8,535 underlying) - 14,000
Stock Option (right to buy)
Exercise: $13.59Exp: 2026-02-16→ Voting Common Stock (14,000 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 additional 1.7958 shares reported here were inadvertently omitted from prior filings due to automatic reinvestments that occurred at various times.
- [F3]2,000 of the RSUs will vest on each of February 22, 2023, 2024, 2025, and 2026, 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 equal 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 equal 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 RSUs vest in five equal annual installments beginning on February 10, 2026, 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 February 16, 2017, as follows: 10% of the shares subject to the option vested on each of February 16, 2017, 2018, 2019, 2020, and 2021; 25% of the shares subject to the option vested on February 16, 2022; and 25% of the shares subject to the option vested on February 16, 2023.