4//SEC Filing
Live Oak Bancshares, Inc. 4
Accession 0001209191-17-007231
$LOBCIK 0001462120operating
Filed
Feb 1, 7:00 PM ET
Accepted
Feb 2, 5:48 PM ET
Size
11.4 KB
Accession
0001209191-17-007231
Insider Transaction Report
Form 4
Hill Thomas A.
Chief Information Officer
Transactions
- Award
Performance Restricted Stock Units
2017-01-31+2,214→ 2,214 totalExp: 2024-01-31→ Voting Common Stock (2,214 underlying)
Holdings
- 30,750
Employee Stock Option (right to buy)
Exercise: $4.40Exp: 2024-03-26→ Voting Common Stock (30,750 underlying) - 15,000
Performance Restricted Stock Units
Exp: 2023-11-30→ Voting Common Stock (15,000 underlying) - 26,000
Employee Stock Option (right to buy)
Exercise: $17.00Exp: 2025-07-22→ Voting Common Stock (26,000 underlying) - 15,824
Voting Common Stock
Footnotes (4)
- [F1]Each performance restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from January 1, 2017 through December 31, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $38.00 per share for at least twenty (20) consecutive trading days at any time prior to January 31, 2024.
- [F2]Each performance RSU represents a contingent right to receive one share of the Company's voting common stock. The vesting of the performance RSUs under this award is subject to the Company achieving total revenue of at least $100 million for the period from October 1, 2016 through September 30, 2017. In addition, in order for the RSUs to vest, the Company's voting common stock must attain a closing price equal to or greater than $34.00 per share for at least twenty (20) consecutive trading days at any time prior to November 30, 2023.
- [F3]The 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.
- [F4]The shares subject to this option vest and become exercisable yearly in seven installments beginning on July 22, 2016, as follows: 10% of the shares subject to the option vest on each of July 22, 2016, 2017, 2018, 2019,and 2020; and 25% of the shares subject to the option vest on each of July 22, 2021 and 2022.
Documents
Issuer
Live Oak Bancshares, Inc.
CIK 0001462120
Entity typeoperating
IncorporatedNC
Related Parties
1- filerCIK 0001462120
Filing Metadata
- Form type
- 4
- Filed
- Feb 1, 7:00 PM ET
- Accepted
- Feb 2, 5:48 PM ET
- Size
- 11.4 KB