0001209191-21-055027.txt : 20210907
0001209191-21-055027.hdr.sgml : 20210907
20210907171625
ACCESSION NUMBER: 0001209191-21-055027
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210902
FILED AS OF DATE: 20210907
DATE AS OF CHANGE: 20210907
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Smits Steve
CENTRAL INDEX KEY: 0001648958
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-37497
FILM NUMBER: 211240027
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
2021-09-02
0
0001462120
Live Oak Bancshares, Inc.
LOB
0001648958
Smits Steve
1741 TIBURON DRIVE
WILMINGTON
NC
28403
0
1
0
0
Chief Credit Officer
Voting Common Stock
2021-09-02
4
S
0
10386
60.4751
D
153989.978
D
Voting Common Stock
2021-09-02
4
S
0
10855
61.5507
D
143134.978
D
Voting Common Stock
2021-09-02
4
S
0
3759
62.1303
D
139375.978
D
Restricted Stock Units
Voting Common Stock
12013
12013
D
Restricted Stock Units
Voting Common Stock
5000
5000
D
Employee Stock Option (right to buy)
4.40
2024-03-26
Voting Common Stock
21500
21500
D
Employee Stock Option (right to buy)
10.63
2025-02-20
Voting Common Stock
20000
20000
D
Employee Stock Option (right to buy)
17.00
2025-07-22
Voting Common Stock
30000
30000
D
This transaction was executed in multiple trades at prices ranging from $60.00 to $60.975. 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.
This transaction was executed in multiple trades at prices ranging from $61.00 to $61.98. 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.
This transaction was executed in multiple trades at prices ranging from $62.00 to $62.20. 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.
Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
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.
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.
The shares subject to this option vested and became exercisable yearly in seven installments beginning on March 26, 2015, as follows: 10% of the shares subject to the option vested on each of March 26, 2015, 2016, 2017, 2018, and 2019; and 25% of the shares subject to the option vested on each of March 26, 2020 and 2021.
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; and 25% of the shares subject to the option vest on each of February 20, 2021 and 2022.
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; 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
2021-09-07