8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 27, 2021

 

LIVE OAK BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

North Carolina	001-37497	26-4596286
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
1741 Tiburon Drive, Wilmington, NC		28403
(Address of principal executive offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (910) 790-5867

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Voting Common Stock, no par value per share	LOB	The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d)On April 27, 2021, S. Brett Caines notified Live Oak Bancshares, Inc. (the “Company”) and Live Oak Banking Company (the “Bank”), a wholly owned subsidiary of the Company, of his intention to step down as Chief Financial Officer.  Management has initiated a process to identify the Company’s next Chief Financial Officer.  Mr. Caines will remain an employee in his current role and title until a successor is identified and will assist in the transition of his duties (the “Transition Period”).  Following the Transition Period, Mr. Caines will remain with the Company in a senior position.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	LIVE OAK BANCSHARES, INC.
Date: May 3, 2021	By:	/s/ S. Brett Caines
		S. Brett Caines
		Chief Financial Officer

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XML

Document And Entity Information	Apr. 27, 2021
Cover [Abstract]
Entity Registrant Name	LIVE OAK BANCSHARES, INC.
Document Type	8-K
Amendment Flag	false
Entity Central Index Key	0001462120
Document Period End Date	Apr. 27, 2021
Entity Emerging Growth Company	false
Entity File Number	001-37497
Entity Incorporation, State or Country Code	NC
Entity Tax Identification Number	26-4596286
Entity Address, Address Line One	1741 Tiburon Drive
Entity Address, City or Town	Wilmington
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28403
City Area Code	(910)
Local Phone Number	790-5867
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of each class	Voting Common Stock, no par value per share
Trading Symbol	LOB
Name of each exchange on which registered	NASDAQ