Smits Steve's Form 4 filing
Live Oak Bancshares, Inc. (LOB) · filed Nov 12, 2021
- Accession no.
- 0001209191-21-064297
- Filed
- Nov 12, 2021
- Trade date
- Nov 10-11, 2021
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Not on the form (before 2023)
This filing lists 8 non-derivative transactions and 3 derivative transactions. Open-market sales total $1.88M. It was filed 2 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Smits SteveCIK 0001648958 | Officer (Chief Credit Officer) |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Nov 10, 2021 | Voting Common Stock | MOption exerciseAcquired | +21,500 | $4.40 | +$94,600 | 160,875.98 | Direct | |
| Nov 10, 2021 | Voting Common Stock | FTax withholdingDisposed | −1,006 | $93.89F1 | −$94,453.34 | 159,869.98 | Direct | |
| Nov 10, 2021 | Voting Common Stock | MOption exerciseAcquired | +14,999 | $10.63 | +$159,439.37 | 174,868.98 | Direct | |
| Nov 10, 2021 | Voting Common Stock | FTax withholdingDisposed | −2,595 | $93.89F2 | −$243,644.55 | 172,273.98 | Direct | |
| Nov 10, 2021 | Voting Common Stock | MOption exerciseAcquired | +22,498 | $17.00 | +$382,466 | 194,771.98 | Direct | |
| Nov 10, 2021 | Voting Common Stock | FTax withholdingDisposed | −7,805 | $93.89F3 | −$732,811.45 | 186,966.98 | Direct | |
| Nov 11, 2021 | Voting Common Stock | SSaleDisposed | −17,801 | $93.71F4 | −$1,668,131.71 | 169,165.98 | Direct | |
| Nov 11, 2021 | Voting Common Stock | SSaleDisposed | −2,199 | $94.27F5 | −$207,299.73 | 166,966.98 | Direct |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Nov 10, 2021 | Voting Common Stock | MOption exerciseDisposed | −21,500 | $0.00 | $0 | 0 | Direct | |
| Nov 10, 2021 | Voting Common Stock | MOption exerciseDisposed | −14,999 | $0.00 | $0 | 5,001 | Direct | |
| Nov 10, 2021 | Voting Common Stock | MOption exerciseDisposed | −22,498 | $0.00 | $0 | 7,502 | Direct |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F1
Reflects the exercise of a Live Oak Bancshares, Inc. (the "Company") employee stock option for a total of 21,500 shares by means of a stock swap. A stock swap is a method of exercising a stock option in which the option holder relinquishes enough shares of stock to cover the exercise price of the option being exercised and any applicable related withholding taxes. The price of $93.89 in column 4 is the closing price of the Company's voting common stock as of November 10, 2021.
Referenced by the price of 1 transaction in Table I.
- F2
Reflects the exercise of a Company employee stock option for a total of 14,999 shares by means of a stock swap. See Note 1 for additional information.
Referenced by the price of 1 transaction in Table I.
- F3
Reflects the exercise of a Company employee stock option for a total of 22,498 shares by means of a stock swap. See Note 1 for additional information.
Referenced by the price of 1 transaction in Table I.
- F4
This transaction was executed in multiple trades at prices ranging from $93.11 to $94.10. 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 transactions were effected.
Referenced by the price of 1 transaction in Table I.
- F5
This transaction was executed in multiple trades at prices ranging from $94.105 to $94.53. 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 transactions were effected.
Referenced by the price of 1 transaction in Table I.