Form 4: Live Oak Bancshares Executive Renato Derraik Reports Stock Transactions
SEC Form 4 Filing
Renato Derraik, Chief Info./Digital Officer at Live Oak Bancshares, reports the vesting and subsequent disposal of restricted stock units.
Summary
- On February 14, 2025, Renato Derraik, Chief Info./Digital Officer of Live Oak Bancshares, reported transactions involving Live Oak Bancshares voting common stock.
- These transactions included the vesting of 17,923 and 1,580 restricted stock units (RSUs), and the disposal of 7,965 and 703 shares to cover tax obligations.
- Following these transactions, Derraik directly owns 50,535 shares of voting common stock and various amounts of unvested restricted stock units.
- The RSUs vest in five equal annual installments, with vesting start dates ranging from August 10, 2022, to February 10, 2026, contingent upon continuous service to the company.
Sentiment
Score: 5
Explanation: This is a routine disclosure of stock transactions by an insider, with no inherently positive or negative implications for the company's performance.
Future Outlook
The reporting person's future stock ownership will be affected by the vesting schedule of the remaining RSUs and any subsequent transactions.
Industry Context
Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their trading activities and potential alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent routine insider trading activity.
Key Dates
| Date | Description |
|---|---|
| 08/10/2022 | Start date for vesting of 50,000 RSUs in five equal annual installments. |
| 02/14/2023 | Start date for vesting of 1,580 RSUs in five equal annual installments. |
| 02/13/2024 | Start date for vesting of 17,923 RSUs in five equal annual installments. |
| 02/12/2025 | Start date for vesting of 17,025 RSUs in five equal annual installments. |
| 02/14/2025 | Date of reported stock transactions (vesting and disposal). |
| 02/10/2026 | Start date for vesting of 15,678 RSUs in five equal annual installments. |
Keywords
Live Oak Bancshares, Renato Derraik, Form 4, Stock transaction, Restricted Stock Units, LOB, Insider trading
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