Live Oak officer exercises options, sells 9,700 shares
Live Oak Bancshares, Inc. Chief Experience Officer Spencer Courtney reported an option exercise and share sale.
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Rhea-AI Filing Summary
Live Oak Bancshares, Inc. Chief Experience Officer Spencer Courtney reported an option exercise and share sale. On January 26, 2026, he exercised a stock option for 14,000 shares of voting common stock at $13.59 per share, increasing his direct holdings. The same day, he sold 9,700 shares of voting common stock at a weighted average price of $39.005 per share, in trades executed between $39.000 and $39.155, leaving 25,160 shares held directly. He also reports 153.7958 shares held indirectly by his spouse and multiple blocks of restricted stock units, each representing a contingent right to receive one share of voting common stock that vest over several annual installments.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 14,000 | $0.00 | $0.00 |
| Exercise | Voting Common Stock | 14,000 | $13.59 | $190K |
| Sale | Voting Common Stock | 9,700 | $39.005 | $378K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
Footnotes (8)
- F1. This transaction was executed in multiple trades at prices ranging from $39.000 to $39.155. 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 vested and became exercisable yearly in seven installments beginning on February 16, 2017, as follows: 10% of the shares subject to the option vested on each of February 16, 2017, 2018, 2019, 2020, and 2021; 25% of the shares subject to the option vested on February 16, 2022; and 25% of the shares subject to the option vested on February 16, 2023.
- 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. The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F5. 2,000 of the RSUs will vest on each of February 22, 2023, 2024, 2025, and 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F6. The RSUs vest in five annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F7. The RSUs vest in five annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F8. The RSUs vest in five annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
FAQ
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What insider transactions did LOB Chief Experience Officer Spencer Courtney report?
What stock option activity did the LOB insider report on this Form 4?
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