Form 4: Live Oak Bancshares CFO William C. Losch III Reports Stock Transactions
SEC Form 4 Filing
William C. Losch III, CFO of Live Oak Bancshares, reported the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On August 12, 2024, William C. Losch III, the Chief Financial Officer of Live Oak Bancshares, Inc., reported transactions involving the company's voting common stock.
- 42,000 restricted stock units (RSUs) vested, each representing a contingent right to receive one share of Live Oak Bancshares voting common stock.
- Following the vesting, Losch sold 18,665 shares at a price of $38.43 per share to satisfy tax obligations.
- After these transactions, Losch directly owns 94,960 shares of Live Oak Bancshares voting common stock.
- He also holds various tranches of unvested restricted stock units: 3,792 RSUs vesting from February 2023, 71,692 RSUs vesting from February 2024, 250,000 RSUs vesting from August 2024, and 55,082 RSUs vesting from February 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like the CFO, trade their company's stock. These filings provide transparency to investors about the trading activities of those with privileged information.
Key Dates
| Date | Description |
|---|---|
| 08/10/2022 | Start date for vesting of 1st tranche of RSUs in five equal annual installments. |
| 02/14/2023 | Start date for vesting of 2nd tranche of RSUs in five equal annual installments. |
| 02/13/2024 | Start date for vesting of 3rd tranche of RSUs in five equal annual installments. |
| 08/12/2024 | Date of the reported transactions: vesting of RSUs and sale of shares. |
| 08/25/2024 | Start date for vesting of 4th tranche of RSUs in five equal annual installments. |
| 02/12/2025 | Start date for vesting of 5th tranche of RSUs in five pro rata installments. |
| 08/14/2024 | Date of signature on the Form 4 filing. |
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