Courtney Spencer - Feb 10, 2025 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Experience Officer
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Stock symbol
LOB
Transactions as of
Feb 10, 2025
Transactions value $
-$34,975
Form type
4
Date filed
2/12/2025, 07:03 PM
Previous filing
Feb 26, 2024
Next filing
Feb 14, 2025
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 +2K +13.2% 17.2K Feb 10, 2025 Direct F1
transaction LOB Voting Common Stock Tax liability -$35K -997 -5.8% $35.08 16.2K Feb 10, 2025 Direct
holding LOB Voting Common Stock 152 Feb 10, 2025 By Spouse

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 Award $0 +7.13K $0.00 7.13K Feb 10, 2025 Voting Common Stock 7.13K Direct F1, F2
transaction LOB Restricted Stock Units Options Exercise $0 -2K -100% $0.00 0 Feb 10, 2025 Voting Common Stock 2K Direct F1, F3
holding LOB Restricted Stock Units 4K Feb 10, 2025 Voting Common Stock 4K Direct F1, F4
holding LOB Restricted Stock Units 4.74K Feb 10, 2025 Voting Common Stock 4.74K Direct F1, F5
holding LOB Restricted Stock Units 11.4K Feb 10, 2025 Voting Common Stock 11.4K Direct F1, F6
holding LOB Restricted Stock Units 10.6K Feb 10, 2025 Voting Common Stock 10.6K Direct F1, F7
holding LOB Stock Option (right to buy) 14K Feb 10, 2025 Voting Common Stock 14K $13.59 Direct F8
* 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 pro rata annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
F3 2,002 of the RSUs vested on each of February 10, 2023 and February 12, 2024 and 2,003 of the RSUs vested on February 10, 2025.
F4 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.
F5 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.
F6 The RSUs vest in five pro rata 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.
F7 The RSUs vest in five equal annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
F8 The shares subject to this option vested and became 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 he option vested on February 16, 2023.