Accession Number: | 0001209191-20-008831 |
Date: | 2020-02-10 |
Issuer: | LIVE OAK BANCSHARES, INC. (LOB) |
Original Submission Date: |
GARRIOTT HUNTLEY
1741 TIBURON DRIVE
WILMINGTON, NC 28403
Title of Security | Transaction Date | 2a. Deemed Execution Date | Transaction Code | Shares | Acquired or Disposed | Price per share | 5. Amount of Securities Beneficially Owned Following Reported Transaction | 6. Ownership Form Direct or Indirect | Nature of Indirect Ownership |
---|---|---|---|---|---|---|---|---|---|
VOTING COMMON STOCK | 2020-02-11 | M | 7,500 | a | $0.00 | 62,500 | direct | ||
VOTING COMMON STOCK | 2020-02-11 | F | 2,406 | d | $18.00 | 60,094 | direct |
Title of Derivative Security | Conversion or Exercise Price of Derivative Security | Transaction Date | Deemed Execution Date | Transaction Code | Number of Derivative Securities Acquired (A) or Disposed of (D) | Date Exercisable | Expiration Date | Title and Amount of Securities Underlying Derivative Security | Price of Derivative Security | Number of derivative Securities Beneficially Owned Following Reported Transaction(s) | Ownership Form: Direct (D) or Indirect (I) | Nature of Indirect Beneficial Ownership |
---|---|---|---|---|---|---|---|---|---|---|---|---|
RESTRICTED STOCK UNITS | 0.0 | 2020-02-10 | deemed execution date | A | 22,246 (a) | voting common stock 22,246 | $0.00 | 22,246 | direct | |||
RESTRICTED STOCK UNITS | 0.0 | 2020-02-11 | deemed execution date | M | 7,500 (d) | voting common stock 7,500 | $0.00 | 22,500 | direct | |||
PERFORMANCE RESTRICTED STOCK UNITS | 0.0 | 2020-02-10 | deemed execution date | 0 ( ) | 2029-02-11 | voting common stock 500,000 | $0.00 | 500,000 | direct |
ID | footnote |
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f1 | each restricted stock unit ("rsu") represents a contingent right to receive one share of live oak bancshares, inc. (the "company") voting common stock. |
f2 | the rsus vest in five equal annual installments beginning on february 10, 2021, subject to the reporting person's continuous service to the company or a related entity on such date. |
f3 | the rsus vest in equal annual installments beginning on february 11, 2020 as follows: 7,500 shares vest on each of february 11, 2020, 2021, 2022, and 2023. |
f4 | each performance rsu represents a contingent right to receive one share of the company's voting common stock. a portion of the performance rsus will vest if the company's voting common stock attains various closing prices for at least twenty consecutive trading days at any time prior to february 11, 2029, in accordance with the following: 20% of the performance rsus will vest upon the attainment of closing stock prices of $35.00 per share, $40.00 per share, $45.00 per share, $50.00 per share, and $55.00 per share. |