Form 4: Live Oak Bancshares Director Glen F. Hoffsis Reports Stock Unit Vesting
SEC Form 4 Filing
Director Glen F. Hoffsis reports the vesting of restricted stock units convertible to 2,327 shares of Live Oak Bancshares voting common stock on May 1, 2025.
Summary
- Glen F. Hoffsis, a director of Live Oak Bancshares, Inc., reported a transaction on May 1, 2025.
- The transaction involved the vesting of 2,327 restricted stock units, each representing a contingent right to receive one share of Live Oak Bancshares voting common stock.
- Following the transaction, Hoffsis directly owns 134,573 shares of voting common stock.
- The restricted stock units vested on May 1, 2025.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock unit vesting, with no particularly positive or negative implications.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The vesting of stock units aligns the director's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/01/2025 | Date of earliest transaction: Vesting of restricted stock units. |
| 05/01/2025 | Restricted stock units vested. |
| 05/05/2025 | Date of signature on the report. |
Keywords
Live Oak Bancshares, Director, Form 4, Stock Units, Beneficial Ownership, Vesting, LOB, Hoffsis
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