Form 4: Live Oak Bancshares Executive Cairns 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 and common stock transactions.
Summary
- On February 10, 2025, Michael Cairns, Chief Credit Officer of Live Oak Bancshares, reported transactions involving the company's voting common stock and restricted stock units (RSUs).
- Cairns acquired 390 shares of voting common stock upon the vesting of RSUs.
- He disposed of 194 shares of voting common stock at a price of $35.08.
- Following these transactions, Cairns directly owns 6,874 shares of voting common stock.
- He also holds various tranches of RSUs that vest over different periods, totaling 26,286 RSUs.
Sentiment
Score: 5
Explanation: This is a routine insider transaction report, with neutral sentiment. It reflects standard compensation practices and does not inherently indicate positive or negative sentiment about the company's prospects.
Future Outlook
The reporting person's future transactions will likely be influenced by the vesting schedule of the remaining RSUs and personal financial planning.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units to align management's interests with those of shareholders.
- Vesting schedules are a common mechanism to incentivize long-term commitment from key personnel.
- The specifics of RSU grants and vesting schedules vary widely across companies and industries, depending on factors such as company size, growth stage, and competitive landscape.
Stakeholder Impact
- The transactions have a minor impact on shareholders, as they reflect routine executive compensation and stock ownership adjustments.
- The vesting of RSUs incentivizes the executive to remain with the company, potentially benefiting employees and other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 02/10/2025 | Date of transactions involving voting common stock and restricted stock units. |
| 02/12/2025 | Date of signature on the Form 4 filing. |
| 12/15/2024 | Vesting date for some of the Restricted Stock Units. |
| 12/09/2024 | Vesting date for some of the Restricted Stock Units. |
| 02/22/2025 | Vesting date for some of the Restricted Stock Units. |
| 08/19/2025 | Vesting date for some of the Restricted Stock Units. |
| 12/08/2025 | Vesting date for some of the Restricted Stock Units. |
| 12/15/2025 | Vesting date for some of the Restricted Stock Units. |
| 02/10/2026 | First vesting date for a portion of the RSUs. |
| 02/22/2026 | Vesting date for some of the Restricted Stock Units. |
| 08/19/2026 | Vesting date for some of the Restricted Stock Units. |
| 12/08/2026 | Vesting date for some of the Restricted Stock Units. |
| 12/15/2026 | Vesting date for some of the Restricted Stock Units. |
| 08/19/2027 | Vesting date for some of the Restricted Stock Units. |
| 12/08/2027 | Vesting date for some of the Restricted Stock Units. |
| 08/19/2028 | Vesting date for some of the Restricted Stock Units. |
| 08/19/2029 | Final vesting date for a portion of the RSUs. |
Keywords
Live Oak Bancshares, LOB, Form 4, Michael Cairns, Restricted Stock Units, Voting Common Stock, Insider Trading, Chief Credit Officer, Stock Options, Beneficial Ownership
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