Form 4: Live Oak Bancshares CFO William C. Losch III Exercises Stock Options, Disposes of Shares
SEC Form 4 Filing
William C. Losch III, CFO of Live Oak Bancshares, exercised stock options and disposed of shares on August 26, 2024.
Summary
- On August 26, 2024, William C. Losch III, the Chief Financial Officer of Live Oak Bancshares, Inc., executed transactions involving the company's voting common stock.
- Losch exercised restricted stock units (RSUs) converting them into 50,000 shares of voting common stock.
- Following the conversion, Losch disposed of 22,220 shares at a price of $42.52 per share.
- After these transactions, Losch directly owns 122,740 shares of Live Oak Bancshares voting common stock.
- Losch also holds various tranches of unexercised Restricted Stock Units (RSUs) that vest over the coming years.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions by a company executive. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to monitor executive compensation and potential alignment of interests.
Stakeholder Impact
- Shareholders can monitor insider transactions to assess management's confidence in the company.
- The market may react to the disposal of shares, depending on the volume and perceived reasons for the sale.
Key Dates
| Date | Description |
|---|---|
| 08/10/2022 | Start date for vesting of 84,000 RSUs in five equal annual installments. |
| 02/14/2023 | Start date for vesting of 3,792 RSUs in five equal annual installments. |
| 02/13/2024 | Start date for vesting of 71,692 RSUs in five equal annual installments. |
| 08/26/2024 | Date of transaction: Exercise of RSUs and disposal of shares. |
| 02/12/2025 | Start date for vesting of 55,082 RSUs in five pro rata installments. |
| 08/28/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.