Form 4: Live Oak Bancshares Director, Tonya Williams Bradford, Reports Stock Unit Vesting

Tonya Williams Bradford, a director at Live Oak Bancshares, reported the vesting of 3,625 restricted stock units on May 1, 2024, which converted into an equal number of voting common stock shares.

Summary

• On May 3, 2024, a Form 4 filing was submitted to the SEC by Jonathan A. Greene, acting as Power of Attorney for Tonya Williams Bradford, a director of Live Oak Bancshares, Inc.
• The filing reports a transaction that occurred on May 1, 2024, involving the vesting of restricted stock units.
• Specifically, 3,625 restricted stock units vested, each representing a contingent right to receive one share of Live Oak Bancshares voting common stock.
• Upon vesting, these units converted into 3,625 shares of voting common stock.
• Following the transaction, Bradford directly owns 8,470 shares of Live Oak Bancshares voting common stock.

Sentiment

Score: 5

Explanation: This is a neutral event, reflecting a standard vesting of stock units. It doesn't inherently indicate positive or negative sentiment.

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