0001209191-22-016494.txt : 20220304 0001209191-22-016494.hdr.sgml : 20220304 20220304195016 ACCESSION NUMBER: 0001209191-22-016494 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220302 FILED AS OF DATE: 20220304 DATE AS OF CHANGE: 20220304 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: 22715884 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 2022-03-02 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 2022-03-02 4 S 0 2747 63.1264 D 166966.978 I By Steven Joseph Smits Revocable Trust Restricted Stock Units Voting Common Stock 9010 9010 D Restricted Stock Units Voting Common Stock 7900 7900 D Restricted Stock Units Voting Common Stock 4000 4000 D Employee Stock Option (right to buy) 10.63 2025-02-20 Voting Common Stock 5001 5001 D Employee Stock Option (right to buy) 17.00 2025-07-22 Voting Common Stock 7502 7502 D This transaction was executed in multiple trades at prices ranging from $63.00 to $63.31. 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 14, 2023, 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 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. 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 will vest on July 22, 2022. /s/ Jonathan A. Greene, by Power of Attorney 2022-03-04