Form Type: 4

SEC EDGAR Link
Accession Number:0001209191-21-067869
Date:2021-12-01
Issuer: LIVE OAK BANCSHARES, INC. (LOB)
Original Submission Date:

Reporting Person:

SEWARD GREGORY W
1741 TIBURON DRIVE
WILMINGTON, NC 28403

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
VOTING COMMON STOCK 2021-12-01 M 5,000 a $14.55 78,180 direct
VOTING COMMON STOCK 2021-12-01 S 5,000 d $91.50 73,180 direct
VOTING COMMON STOCK 2021-12-03 G 225 d $0.00 72,955 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
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 ExercisableExpiration 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
EMPLOYEE STOCK OPTION (RIGHT TO BUY) 14.55 2021-12-01 deemed execution date M 5,000 (d) 2025-11-19 voting common stock 5,000 $14.55 25,000 direct
RESTRICTED STOCK UNITS 0.0 deemed execution date 0 ( ) voting common stock 8,009 $0.00 8,009 direct
RESTRICTED STOCK UNITS 0.0 deemed execution date 0 ( ) voting common stock 5,000 $0.00 5,000 direct
Footnotes
IDfootnote
f1 this transaction was executed in multiple trades at prices ranging from $91.32 to $91.96. the price reported in column 4 is a weighted average price. the reporting person hereby undertakes to provide upon request to the sec staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the trades were effected.
f2 the shares subject to this option vest and become exercisable yearly in seven installments beginning on november 19, 2016, as follows: 10% of the shares subject to the option vested on each of november 19, 2016, 2017, 2018, 2019,and 2020; and 25% of the shares subject to the option vest on each of november 19, 2021 and 2022.
f3 each restricted stock unit ("rsu") represents a contingent right to receive one share of live oak bancshares, inc. (the "company") voting common stock.
f4 2,002 of the rsus will vest on each of february 10, 2022, 2023, and 2024; and 2,003 of the rsus will vest on february 10, 2025, subject to the reporting person's continuous service to the company or a related entity on such date.
f5 the rsus vest in five equal annual installments beginning on february 22, 2022, subject to the reporting person's continuous service to the company or a related entity on such date.
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