0001578563-23-000106.txt : 20231219
0001578563-23-000106.hdr.sgml : 20231219
20231219171703
ACCESSION NUMBER: 0001578563-23-000106
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20231215
FILED AS OF DATE: 20231219
DATE AS OF CHANGE: 20231219
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Seward Gregory W
CENTRAL INDEX KEY: 0001656656
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-37497
FILM NUMBER: 231498485
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]
ORGANIZATION NAME: 02 Finance
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
wk-form4_1703024213.xml
FORM 4
X0508
4
2023-12-15
0
0001462120
Live Oak Bancshares, Inc.
LOB
0001656656
Seward Gregory W
1741 TIBURON DRIVE
WILMINGTON
NC
28403
0
1
0
0
General Counsel
0
Voting Common Stock
2023-12-15
4
M
0
3000
14.55
A
88410
D
Voting Common Stock
2023-12-15
4
F
0
982
44.44
D
87428
D
Employee Stock Option (right to buy)
14.55
2023-12-15
4
M
0
3000
0
D
2025-11-19
Voting Common Stock
3000
13500
D
Restricted Stock Units
Voting Common Stock
4005
4005
D
Restricted Stock Units
Voting Common Stock
3000
3000
D
Restricted Stock Units
Voting Common Stock
9480
9480
D
Restricted Stock Units
Voting Common Stock
59743
59743
D
Reflects the exercise of a Live Oak Bancshares, Inc. (the "Company") employee stock option for a total of 3,000 shares by means of a stock swap. A stock swap is a method of exercising a stock option in which the option holder relinquishes enough shares of stock to cover the exercise price of the option being exercised and any applicable related withholding taxes. The price of $44.44 in column 4 is the closing price of the Company's voting common stock as of December 15, 2023.
The shares subject to this option vested and became exercisable yearly in seven installments beginning on November 19, 2016, as follows: 10% of the shares subject to the option vested on each of November 19, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on each of November 19, 2021 and November 19, 2022.
Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Company's voting common stock.
2,002 of the RSUs will vest on each of February 10, 2022, 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 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 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 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.
/s/ Jonathan A. Greene, By Power of Attorney
2023-12-19