0001209191-23-009591.txt : 20230214 0001209191-23-009591.hdr.sgml : 20230214 20230214211407 ACCESSION NUMBER: 0001209191-23-009591 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230210 FILED AS OF DATE: 20230214 DATE AS OF CHANGE: 20230214 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: 23633340 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 2023-02-10 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 2023-02-10 4 M 0 3003 A 169969 I By Steven Joseph Smits Revocable Trust Voting Common Stock 2023-02-10 4 F 0 1044 34.34 D 168925 I By Steven Joseph Smits Revocable Trust Restricted Stock Units 2023-02-10 4 M 0 3003 0.00 D Voting Common Stock 3003 6007 D Restricted Stock Units 2023-02-13 4 A 0 12802 0.00 A Voting Common Stock 12802 12802 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 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 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. 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 vested and became 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 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. /s/ Jonathan A. Greene, by Power of Attorney 2023-02-14