Form 4: Live Oak Bancshares Chief Credit Officer Reports Stock Transactions
SEC Form 4 Filing
Michael Cairns, Chief Credit Officer of Live Oak Bancshares, reports the vesting and disposal of restricted stock units.
Summary
- Michael Cairns, the Chief Credit Officer of Live Oak Bancshares, Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On February 24, 2025, 145 voting common stock shares were acquired through the vesting of restricted stock units (RSUs).
- Also on February 24, 2025, 73 voting common stock shares were disposed of to cover tax obligations at a price of $31.99 per share.
- Following these transactions, Cairns directly owns 6,946 shares of Live Oak Bancshares voting common stock.
- Cairns also holds various tranches of restricted stock units (RSUs) that will vest over the next several years, contingent upon continued service to the company.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions by an officer. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The reporting person holds multiple grants of RSUs that will vest over the next several years, contingent upon continued service to the company.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, as required by SEC regulations. It provides transparency into the trading activities of key personnel and their alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 02/24/2025 | Date of transaction: vesting of RSUs and disposal of shares for tax obligations. |
| 02/25/2025 | Date of Form 4 filing. |
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