SEC Form 4 · accession 0001209191-16-137949
Live Oak Bancshares, Inc. · LOB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Glen F. Hoffsis
Director
Period of report
Aug 19, 2016
Accepted (ET)
Aug 19, 2016 · 4:17 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 | Aug 19, 2016 | M | 6,000 | $4.40 | A | 82,090 | D |
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)F1 | $4.40 | Aug 19, 2016 | M | 6,000 | D | — | Mar 26, 2024 | Voting Common Stock | 6,000 | 24,000 | D |
| Restricted Stock UnitsF2,F3 | — | holding | — | — | — | — | — | Voting Common Stock | 1,892 | 1,892 | D |
Explanation of responses
- F1The 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.
- F2Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares voting common stock.
- F3The restricted stock units vest on May 24, 2017.