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