SEC Form 4 · accession 0001209191-16-118481
Live Oak Bancshares, Inc. · LOB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William Henderson Cameron
Director
Period of report
May 5, 2016
Accepted (ET)
May 9, 2016 · 4:33 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 StockF1 | May 5, 2016 | G | 4,250 | $0.00 | D | 15,000 | D | |
| Voting Common StockF1 | holding | — | — | — | 154,725 | I | By William H. Cameron Revocable Trust | |
| Voting Common Stock | holding | — | — | — | 470 | I | By GST-Exempt Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F2 | $4.40 | holding | — | — | — | — | Mar 26, 2024 | Voting Common Stock | 30,000 | 30,000 | D |
Explanation of responses
- F1On May 5, 2016, the reporting person disposed of 4,250 shares of voting common stock by gift. On the same date, the reporting person transferred 150,725 shares of voting common stock to his revocable trust. These shares were previously reported as directly beneficially owned.
- F2The shares subject to this option vest and become exercisable yearly in seven installments beginning on March 26, 2015, as follows: 10% of the shares subject to the option vest on each of March 26, 2015, 2016, 2017, 2018, and 2019; and 25% of the shares subject to the option vest on each of March 26, 2020 and 2021.