0001578563-24-000106.txt : 20240216
0001578563-24-000106.hdr.sgml : 20240216
20240216175811
ACCESSION NUMBER: 0001578563-24-000106
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240214
FILED AS OF DATE: 20240216
DATE AS OF CHANGE: 20240216
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: 24649869
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_1708124277.xml
FORM 4
X0508
4
2024-02-14
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
2024-02-14
4
M
0
2560
A
149830
I
By Steven Joseph Smits Revocable Trust
Voting Common Stock
2024-02-14
4
F
0
1132
38.55
D
148698
I
By Steven Joseph Smits Revocable Trust
Voting Common Stock
2024-02-15
4
M
0
1580
A
150278
I
By Steven Joseph Smits Revocable Trust
Voting Common Stock
2024-02-15
4
F
0
701
39.21
D
149577
I
By Steven Joseph Smits Revocable Trust
Restricted Stock Units
2024-02-14
4
M
0
2560
0
D
Voting Common Stock
2560
10242
D
Restricted Stock Units
2024-02-15
4
M
0
1580
0
D
Voting Common Stock
1580
4740
D
Restricted Stock Units
Voting Common Stock
3000
3000
D
Restricted Stock Units
Voting Common Stock
3004
3004
D
Restricted Stock Units
Voting Common Stock
13144
13144
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.
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 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 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.
3,003 of the RSUs vested on each of February 10, 2022 and 2023, and February 12, 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 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
2024-02-16