0001578563-24-000074.txt : 20240214 0001578563-24-000074.hdr.sgml : 20240214 20240214200626 ACCESSION NUMBER: 0001578563-24-000074 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240212 FILED AS OF DATE: 20240214 DATE AS OF CHANGE: 20240214 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Smits Steve CENTRAL INDEX KEY: 0001648958 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-37497 FILM NUMBER: 24641604 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] ORGANIZATION NAME: 02 Finance 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 wk-form4_1707959172.xml FORM 4 X0508 4 2024-02-12 0 0001462120 Live Oak Bancshares, Inc. LOB 0001648958 Smits Steve 1741 TIBURON DRIVE WILMINGTON NC 28403 0 1 0 0 Chief Credit Officer 0 Voting Common Stock 2024-02-12 4 M 0 3003 A 148754 I By Steven Joseph Smits Revocable Trust Voting Common Stock 2024-02-12 4 F 0 1484 39.94 D 147270 I By Steven Joseph Smits Revocable Trust Restricted Stock Units 2024-02-12 4 M 0 3003 0 D Voting Common Stock 3003 3004 D Restricted Stock Units 2024-02-12 4 A 0 13144 0 A Voting Common Stock 13144 13144 D Restricted Stock Units Voting Common Stock 3000 3000 D Restricted Stock Units Voting Common Stock 6320 6320 D Restricted Stock Units Voting Common Stock 12802 12802 D Employee Stock Option (right to buy) 10.63 2025-02-20 Voting Common Stock 5001 5001 D Employee Stock Option (right to buy) 17 2025-07-22 Voting Common Stock 7502 7502 D Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. 3,003 of the RSUs vested on each of February 10, 2022, 2023, and 2024; and 3,004 of the RSUs will vest on February 10, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five pro rata 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. 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. 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. The RSUs vest in five pro rata 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. The shares subject to this option vest and become exercisable yearly in seven installments beginning on February 20, 2016, as follows: 10% of the shares subject to the option vested on each of February 20, 2016, 2017, 2018, 2019, and 2020; 25% of the shares subject to the option vested on February 20, 2021; and 25% of the shares subject to the option vested on February 20, 2022. The shares subject to this option vest and become 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. /s/ Jonathan A. Greene, By Power of Attorney 2024-02-14