Courtney Spencer - Feb 24, 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 24, 2025
Transactions value $
-$28,439
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 +2K +10.13% 21.7K Feb 24, 2025 Direct F1
transaction LOB Voting Common Stock Tax liability -$28.4K -889 -4.09% $31.99 20.9K Feb 24, 2025 Direct
holding LOB Voting Common Stock 154 Feb 24, 2025 By Spouse F2

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 -2K -50% $0.00 2K Feb 24, 2025 Voting Common Stock 2K Direct F1, F3
holding LOB Restricted Stock Units 3.16K Feb 24, 2025 Voting Common Stock 3.16K Direct F1, F4
holding LOB Restricted Stock Units 8.54K Feb 24, 2025 Voting Common Stock 8.54K Direct F1, F5
holding LOB Restricted Stock Units 8.51K Feb 24, 2025 Voting Common Stock 8.51K Direct F1, F6
holding LOB Restricted Stock Units 7.13K Feb 24, 2025 Voting Common Stock 7.13K Direct F1, F7
holding LOB Stock Option (right to buy) 14K Feb 24, 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 additional 1.7958 shares reported here were inadvertently omitted from prior filings due to automatic reinvestments that occurred at various times.
F3 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.
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 12, 2025, 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 10, 2026, 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 the option vested on February 16, 2023.