SEC Form 4 · accession 0001209191-15-062554
Live Oak Bancshares, Inc. · LOB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John W. Sutherland
Officer — Chief Accounting Officer
Period of report
Jul 23, 2015
Accepted (ET)
Jul 27, 2015 · 4:58 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001462120
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Voting Common Stock | Jul 23, 2015 | P | 2,200 | $17.00 | A | 34,220 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1 | $10.634 | holding | — | — | — | — | Sep 19, 2024 | Voting Common Stock | 18,000 | 18,000 | D |
| Restricted Stock UnitsF2,F3 | — | holding | — | — | — | — | — | Voting Common Stock | 242 | 242 | D |
Explanation of responses
- F1The shares subject to this option vest and become exercisable yearly in seven installments beginning on September 19, 2015, as follows: 10% of the shares subject to the option vest on each of September 19, 2015, 2016, 2017, 2018, and 2019; and 25% of the shares subject to the option vest on each of September 19, 2020 and 2021
- F2Each restricted stock unit represents a right to receive one share of Live Oak Bancshares voting common stock.
- F3The restricted stock units vest in three equal annual installments beginning on January 30, 2016.