0001209191-18-059493.txt : 20181120 0001209191-18-059493.hdr.sgml : 20181120 20181120174344 ACCESSION NUMBER: 0001209191-18-059493 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20181119 FILED AS OF DATE: 20181120 DATE AS OF CHANGE: 20181120 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Hill Thomas A. CENTRAL INDEX KEY: 0001648793 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-37497 FILM NUMBER: 181196471 MAIL ADDRESS: STREET 1: 1741 TIBURON DRIVE CITY: WILMINGTON STATE: NC ZIP: 28403 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Live Oak Bancshares, Inc. CENTRAL INDEX KEY: 0001462120 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 264596286 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1741 TIBURON DRIVE CITY: WILMINGTON STATE: NC ZIP: 28403 BUSINESS PHONE: 910-790-5867 MAIL ADDRESS: STREET 1: 1741 TIBURON DRIVE CITY: WILMINGTON STATE: NC ZIP: 28403 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2018-11-19 0 0001462120 Live Oak Bancshares, Inc. LOB 0001648793 Hill Thomas A. 1741 TIBURON DRIVE WILMINGTON NC 28403 0 1 0 0 Chief Information Officer Voting Common Stock 7824 D Restricted Stock Units 2018-11-19 4 A 0 10000 0.00 A Voting Common Stock 10000 10000 D Performance Restricted Stock Units 2023-11-30 Voting Common Stock 15000 15000 D Performance Restricted Stock Units 2024-01-31 Voting Common Stock 2214 2214 D Employee Stock Option (right to buy) 4.40 2024-03-26 Voting Common Stock 30750 30750 D Employee Stock Option (right to buy) 17.00 2025-07-22 Voting Common Stock 26000 26000 D Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. The RSUs vest in five equal annual installments beginning on November 19, 2019. Each performance RSU represents a contingent right to receive one share of the Company's voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from October 1, 2016 through September 30, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $34.00 per share for at least twenty (20) consecutive trading days at any time prior to November 30, 2023. Each performance RSU represents a contingent right to receive one share of the Company's voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from January 1, 2017 through December 31, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $38.00 per share for at least twenty (20) consecutive trading days at any time prior to January 31, 2024. The shares subject to this option vest and become exercisable yearly in seven installments beginning on March 26, 2015, as follows: 10% of the shares subject to the option vest on each of March 26, 2015, 2016, 2017, 2018, and 2019; and 25% of the shares subject to the option vest on each of March 26, 2020 and 2021. 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 vest on each of July 22, 2016, 2017, 2018, 2019,and 2020; and 25% of the shares subject to the option vest on each of July 22, 2021 and 2022. /s/ Jonathan A. Greene, by Power of Attorney 2018-11-20