Micah S. Davis - Feb 24, 2025 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
Chief Marketing & Comm Officer
Signature
/s/ Jonathan A. Greene, By Power of Attorney
Stock symbol
LOB
Transactions as of
Feb 24, 2025
Transactions value $
-$14,236
Form type
4
Date filed
2/25/2025, 05:51 PM
Previous 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 +1K +2.1% 48.6K Feb 24, 2025 Direct F1
transaction LOB Voting Common Stock Tax liability -$14.2K -445 -0.92% $31.99 48.1K Feb 24, 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 -1K -50% $0.00 1K Feb 24, 2025 Voting Common Stock 1K Direct F1, F2
holding LOB Restricted Stock Units 1.9K Feb 24, 2025 Voting Common Stock 1.9K Direct F1, F3
holding LOB Restricted Stock Units 6.83K Feb 24, 2025 Voting Common Stock 6.83K Direct F1, F4
holding LOB Restricted Stock Units 7.01K Feb 24, 2025 Voting Common Stock 7.01K Direct F1, F5
holding LOB Restricted Stock Units 4.28K Feb 24, 2025 Voting Common Stock 4.28K Direct F1, F6
holding LOB Employee Stock Option (right to buy) 6.5K Feb 24, 2025 Voting Common Stock 6.5K $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 1,000 of the RSUs will vest on each of February 22, 2024, 2025 and 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
F3 948 of the RSUs will vest on each of February 14, 2024, 2025, 2026 and 2027, 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.
F5 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.
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.