SEC Form 4 · accession 0001209191-17-031576
Live Oak Bancshares, Inc. · LOB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Don Jackson
Director
Period of report
May 9, 2017
Accepted (ET)
May 11, 2017 · 5:05 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 9, 2017 | M | 1,892 | $0.00 | A | 82,510 | D | |
| Voting Common Stock | May 9, 2017 | M | 7,500 | $19.15 | A | 90,010 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F1 | — | May 9, 2017 | M | 1,892 | D | — | — | Voting Common Stock | 1,892 | 0 | D |
| Stock Option (Right to Buy)F3 | $19.15 | May 9, 2017 | M | 7,500 | D | — | Aug 25, 2025 | Voting Common Stock | 7,500 | 22,500 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares voting common stock.
- F2The Compensation Committee approved accelerating the restricted stock units' vesting date to May 9, 2017.
- F3The shares subject to this option vest and become exercisable in four equal annual installments beginning on August 25, 2016.