0001578563-24-000159.txt : 20240311
0001578563-24-000159.hdr.sgml : 20240311
20240311165053
ACCESSION NUMBER: 0001578563-24-000159
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240307
FILED AS OF DATE: 20240311
DATE AS OF CHANGE: 20240311
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: SUTHERLAND JOHN W.
CENTRAL INDEX KEY: 0001635154
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-37497
FILM NUMBER: 24738815
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_1710190241.xml
FORM 4
X0508
4
2024-03-07
0
0001462120
Live Oak Bancshares, Inc.
LOB
0001635154
SUTHERLAND JOHN W.
1741 TIBURON DRIVE
WILMINGTON
NC
28403
0
1
0
0
Chief Accounting Officer
0
Voting Common Stock
2024-03-07
4
S
0
9459
40.5774
D
47644
D
Voting Common Stock
2024-03-07
4
S
0
1041
41.3735
D
46603
D
Restricted Stock Units
Voting Common Stock
461
461
D
Restricted Stock Units
Voting Common Stock
356
356
D
Restricted Stock Units
Voting Common Stock
948
948
D
Restricted Stock Units
Voting Common Stock
2845
2845
D
Restricted Stock Units
Voting Common Stock
4381
4381
D
Employee Stock Option (right to buy)
17
2025-07-22
Voting Common Stock
3000
3000
D
This transaction was executed in multiple trades at prices ranging from $40.25 to $41.19. 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 of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
This transaction was executed in multiple trades at prices ranging from $41.255 to $41.69. 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 of the Issuer full information regarding the number of shares and prices at which the transactions were effected.
Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
460 of the RSUs vested on each of February 10, 2022 and February 12, 2024; and 461 of the RSUs will vest on February 10, 2023 and 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 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 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
2024-03-11