William C. Losch III - 15 Feb 2023 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Financial Officer
Signature: /s/ Jonathan A. Greene, by Power of Attorney
Issuer symbol: LOB
Transactions as of: 15 Feb 2023
Transactions value $: -$14,249
Form type: 4
Date filed: 16 Feb 2023, 17:04
Previous filing: 14 Feb 2023
Next filing: 14 Aug 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOB	Voting Common Stock	Options Exercise		+1.26K	+3.59%		36.5K	15 Feb 2023	Direct	F1
transaction	LOB	Voting Common Stock	Tax liability	-$14.2K	-404	-1.11%	$35.27	36.1K	15 Feb 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LOB	Restricted Stock Units	Options Exercise	$0	-1.26K	-20%	$0.00	5.06K	15 Feb 2023	Voting Common Stock	1.26K		Direct	F1, F2
holding	LOB	Restricted Stock Units						168K	15 Feb 2023	Voting Common Stock	168K		Direct	F1, F3
holding	LOB	Restricted Stock Units						89.6K	15 Feb 2023	Voting Common Stock	89.6K		Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F2	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.
F3	The RSUs vest in five equal annual installments beginning on August 10, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
F4	The RSUs vest in five equal annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.