Live Oak Bancshares (LOB) executive logs RSU share conversion and tax-withholding disposition
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. executive Renato Derraik reported equity award activity involving restricted stock units and common shares. On February 17, he acquired 1,580 shares of voting common stock at a price of $0.00 per share through the exercise or conversion of restricted stock units. On the same date, 703 shares of voting common stock were disposed of at $40.75 per share to cover tax obligations, leaving him with 79,243 voting common shares held directly. He also continues to hold multiple blocks of restricted stock units that each represent a contingent right to receive one share of voting common stock and vest in five equal annual installments starting on specified February or August dates, subject to his continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,580 shares exercised/converted
Mixed
8 txns
Insider
Derraik Renato
Role
Chief Info./Digital Off., Bank
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,580 | $0.00 | -- |
| Exercise | Voting Common Stock | 1,580 | $0.00 | -- |
| Tax Withholding | Voting Common Stock | 703 | $40.75 | $29K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 1,580 shares (Direct);
Voting Common Stock — 79,946 shares (Direct)
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. 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. The RSUs vest in five equal 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. The RSUs vest in five equal 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. The RSUs vest in five equal annual installments beginning on February 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five equal 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. The RSUs vest in five equal annual installments beginning on August 10, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
