Form 4: Live Oak Bancshares Chief Accounting Officer Sells Shares
SEC Form 4 Filing
John W. Sutherland, Chief Accounting Officer of Live Oak Bancshares, sold 12,588 shares of company stock at an average price of $49.002.
Summary
- John W. Sutherland, the Chief Accounting Officer of Live Oak Bancshares, sold 12,588 shares of the company's voting common stock on November 13, 2024.
- The sale was executed at a weighted average price of $49.002 per share, with individual trades ranging from $49.00 to $49.03.
- Following the transaction, Sutherland directly owns 14,015 shares of Live Oak Bancshares voting common stock.
- Sutherland also holds various restricted stock units (RSUs) that vest over time, representing a contingent right to receive shares of common stock.
- These RSUs vest annually on various dates, subject to his continued employment with the company.
- Additionally, Sutherland holds an employee stock option for 3,000 shares, which vested in installments between 2016 and 2022.
Sentiment
Score: 5
Explanation: The document is a neutral report of a stock sale by a company officer, which is a routine event. There is no indication of positive or negative sentiment.
Industry Context
This is a routine SEC Form 4 filing, which is common for corporate insiders who trade company stock. It provides transparency into the transactions of company officers.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency of insider transactions.
- The sale of shares by a company officer is a common occurrence and does not necessarily indicate a negative outlook for the company.
- Similar filings can be observed for officers of comparable financial institutions such as Truist Financial Corporation (TFC) and Regions Financial Corporation (RF).
Stakeholder Impact
- The stock sale may have a minor impact on the share price, but it is unlikely to be significant given the relatively small volume of shares sold compared to the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 07/22/2016 | First vesting date for employee stock option. |
| 02/10/2022 | First vesting date for 460 restricted stock units. |
| 02/22/2022 | First vesting date for another tranche of restricted stock units. |
| 02/14/2023 | First vesting date for another tranche of restricted stock units. |
| 02/13/2024 | First vesting date for another tranche of restricted stock units. |
| 02/12/2024 | Second vesting date for 460 restricted stock units. |
| 11/13/2024 | Date of stock sale. |
| 02/12/2025 | First vesting date for another tranche of restricted stock units. |
| 07/22/2025 | Expiration date for employee stock option. |
Keywords
Live Oak Bancshares, stock sale, insider trading, restricted stock units, employee stock option, John W. Sutherland, LOB, Chief Accounting Officer
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