John W. Sutherland - Feb 12, 2025 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Accounting Officer
Signature: /s/ Jonathan A. Greene, By Power of Attorney
Stock symbol: LOB
Transactions as of: Feb 12, 2025
Transactions value $: -$15,173
Form type: 4
Date filed: 2/14/2025, 05:07 PM
Previous filing: Feb 12, 2025
Next filing: Feb 18, 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		+876	+7.79%		12.1K	Feb 12, 2025	Direct	F1
transaction	LOB	Voting Common Stock	Tax liability	-$15.2K	-436	-3.6%	$34.80	11.7K	Feb 12, 2025	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	-876	-20%	$0.00	3.51K	Feb 12, 2025	Voting Common Stock	876		Direct	F1, F2
holding	LOB	Restricted Stock Units						356	Feb 12, 2025	Voting Common Stock	356		Direct	F1, F3
holding	LOB	Restricted Stock Units						948	Feb 12, 2025	Voting Common Stock	948		Direct	F1, F4
holding	LOB	Restricted Stock Units						2.85K	Feb 12, 2025	Voting Common Stock	2.85K		Direct	F1, F5
holding	LOB	Restricted Stock Units						2.85K	Feb 12, 2025	Voting Common Stock	2.85K		Direct	F1, F6
holding	LOB	Employee Stock Option (right to buy)						3K	Feb 12, 2025	Voting Common Stock	3K	$17.00	Direct	F7

* 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 12, 2025, 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 February 22, 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 14, 2023, 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 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
F6	The RSUs vest in five equal 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.
F7	The shares subject to this option vested and became exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vested on each of July 22, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on July 22, 2021; and 25% of the shares subject to the option vested on July 22, 2022.