0001578563-24-000164.txt : 20240313
0001578563-24-000164.hdr.sgml : 20240313
20240313170432
ACCESSION NUMBER: 0001578563-24-000164
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240311
FILED AS OF DATE: 20240313
DATE AS OF CHANGE: 20240313
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Davis Micah S
CENTRAL INDEX KEY: 0001977288
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-37497
FILM NUMBER: 24746891
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_1710363862.xml
FORM 4
X0508
4
2024-03-11
0
0001462120
Live Oak Bancshares, Inc.
LOB
0001977288
Davis Micah S
1741 TIBURON DRIVE
WILMINGTON
NC
28403
0
1
0
0
Chief Marketing & Comm Officer
0
Voting Common Stock
2024-03-11
4
S
0
8613
39.8724
D
43864
D
Restricted Stock Units
Voting Common Stock
2003
2003
D
Restricted Stock Units
Voting Common Stock
9104
9104
D
Restricted Stock Units
Voting Common Stock
2844
2844
D
Restricted Stock Units
Voting Common Stock
2000
2000
D
Restricted Stock Units
Voting Common Stock
8763
8763
D
Employee Stock Option (right to buy)
17
2025-07-22
Voting Common Stock
6498
6498
D
This transaction was executed in multiple trades at prices ranging from $39.84 to $40.045. 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.
2,002 of the RSUs vested on February 12, 2024 and 2,003 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 equal 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.
948 of the RSUs will vest on each of February 14, 2024, 2025, 2026 and 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
1,000 of the RSUs will vest on each of February 22, 2024, 2025 and 2026, 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 vested and became 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
2024-03-13