SEC Form 4 · accession 0001209191-17-036833
Live Oak Bancshares, Inc. · LOB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott Custer
Officer — President, Live Oak Bank
Period of report
May 30, 2017
Accepted (ET)
Jun 1, 2017 · 4:59 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 30, 2017 | C | 80,000 | — | A | 80,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Voting Common StockF2 | $0.00 | May 30, 2017 | P | 80,000 | A | — | — | Voting Common Stock | 80,000 | 80,000 | D |
| Non-Voting Common StockF3 | $0.00 | May 30, 2017 | C | 80,000 | D | — | — | Voting Common Stock | 80,000 | 0 | D |
Explanation of responses
- F1Shares of Non-Voting Common Stock converted into shares of Voting Common Stock at the election of the Reporting Person.
- F2Purchase of shares of Non-Voting Common Stock by the Reporting Person in a private purchase from another shareholder of the Issuer. Each share of Non-Voting Common Stock is convertible into Voting Common Stock on a one-for-one basis. The Non-Voting Common Stock does not have an exercise or expiration date.
- F3Following the Reporting Person's purchase of Non-Voting Common Stock, all shares of Non-Voting Common Stock purchased were converted into shares of Voting Common Stock on a one-for-one basis. The Non-Voting Common Stock did not have a set exercise or expiration date.