0001209191-18-045531.txt : 20180806
0001209191-18-045531.hdr.sgml : 20180806
20180806162832
ACCESSION NUMBER: 0001209191-18-045531
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20180803
FILED AS OF DATE: 20180806
DATE AS OF CHANGE: 20180806
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Caines S. Brett
CENTRAL INDEX KEY: 0001647119
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-37497
FILM NUMBER: 18995097
MAIL ADDRESS:
STREET 1: 1741 TIBURON DRIVE
CITY: WILMINGTON
STATE: NC
ZIP: 28403
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Live Oak Bancshares, Inc.
CENTRAL INDEX KEY: 0001462120
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
IRS NUMBER: 264596286
STATE OF INCORPORATION: NC
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1741 TIBURON DRIVE
CITY: WILMINGTON
STATE: NC
ZIP: 28403
BUSINESS PHONE: 910-790-5867
MAIL ADDRESS:
STREET 1: 1741 TIBURON DRIVE
CITY: WILMINGTON
STATE: NC
ZIP: 28403
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2018-08-03
0
0001462120
Live Oak Bancshares, Inc.
LOB
0001647119
Caines S. Brett
1741 TIBURON DRIVE
WILMINGTON
NC
28403
0
1
0
0
Chief Financial Officer
Voting Common Stock
2018-08-03
4
S
0
3386
29.53
D
284170
D
Performance Restricted Stock Units
2023-11-30
Voting Common Stock
50000
50000
D
Performance Restricted Stock Units
2024-01-31
Voting Common Stock
3427
3427
D
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 8, 2017.
This transaction was executed in multiple trades ranging from $29.30 to $29.90. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder full information regarding the number of shares and prices at which the transactions were effected.
Each performance restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from October 1, 2016 through September 30, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $34.00 per share for at least twenty (20) consecutive trading days at any time prior to November 30, 2023.
Each performance RSU represents a contingent right to receive one share of the Company's voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from January 1, 2017 through December 31, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $38.00 per share for at least twenty (20) consecutive trading days at any time prior to January 31, 2024.
/s/ Jonathan A Greene, by Power of Attorney
2018-08-06