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