SEC Form 4 · accession 0001209191-18-029566
Live Oak Bancshares, Inc. · LOB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jerald L Pullins
Director
Period of report
May 9, 2018
Accepted (ET)
May 11, 2018 · 4:25 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, 2018 | M | 1,210 | — | A | 236,482 | 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 UnitsF1,F2 | — | May 9, 2018 | M | 1,210 | D | — | — | Voting Common Stock | 1,210 | 0 | D |
| Stock Option (right to buy)F3 | $4.40 | holding | — | — | — | — | Mar 26, 2024 | Voting Common Stock | 30,000 | 30,000 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares voting common stock.
- F2The restricted units vested on May 9, 2018.
- F3The 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.