Gregory W. Seward - Feb 24, 2025 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role
General Counsel
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, 05:52 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 +1.04% 97.3K Feb 24, 2025 Direct F1
transaction LOB Voting Common Stock Tax liability -$14.2K -445 -0.46% $31.99 96.9K 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 4.74K Feb 24, 2025 Voting Common Stock 4.74K Direct F1, F3
holding LOB Restricted Stock Units 35.8K Feb 24, 2025 Voting Common Stock 35.8K Direct F1, F4
holding LOB Restricted Stock Units 11K Feb 24, 2025 Voting Common Stock 11K Direct F1, F5
holding LOB Restricted Stock Units 9.26K Feb 24, 2025 Voting Common Stock 9.26K Direct F1, F6
holding LOB Employee Stock Option (right to buy) 13.5K Feb 24, 2025 Voting Common Stock 13.5K $14.55 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 22, 2022, 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 14, 2023, 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 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.