0001209191-23-009592.txt : 20230214 0001209191-23-009592.hdr.sgml : 20230214 20230214211617 ACCESSION NUMBER: 0001209191-23-009592 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: Spencer Courtney CENTRAL INDEX KEY: 0001937224 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-37497 FILM NUMBER: 23633342 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 0001937224 Spencer Courtney 1741 TIBURON DRIVE WILMINGTON NC 28403 0 1 0 0 Chief Experience Officer Voting Common Stock 2023-02-10 4 M 0 2002 A 8676 D Voting Common Stock 2023-02-10 4 F 0 696 34.34 D 7980 D Voting Common Stock 152 I By Spouse Restricted Stock Units 2023-02-10 4 M 0 2002 0.00 D Voting Common Stock 2002 4005 D Restricted Stock Units 2023-02-13 4 A 0 14224 0.00 A Voting Common Stock 14224 14224 D Restricted Stock Units Voting Common Stock 7900 7900 D Restricted Stock Units Voting Common Stock 8000 8000 D Restricted Stock Units Voting Common Stock 360 360 D Stock Option (right to buy) 13.59 2026-02-16 Voting Common Stock 14000 14000 D Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. 2,002 of the RSUs will vest on each of February 10, 2023 and 2024 and 2,003 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. 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. The remaining 360 RSUs will vest on November 19, 2023, 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 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 vest on February 16, 2023. /s/ Jonathan A. Greene, by Power of Attorney 2023-02-14