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 of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On August 12, 2024, Renato Derraik, Chief Info./Digital Officer of Live Oak Bancshares, exercised restricted stock units (RSUs) converting into 25,000 shares of voting common stock.
- Following the conversion, Derraik disposed of 11,110 shares at a price of $38.43 to satisfy tax obligations.
- After these transactions, Derraik directly owns 37,444 shares of Live Oak Bancshares voting common stock.
- Derraik also holds various tranches of unvested Restricted Stock Units (RSUs) totaling 97,713 shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Key Dates
| Date | Description |
|---|---|
| 08/10/2022 | First vesting date for 1/5 of the 25,000 RSUs granted |
| 02/14/2023 | First vesting date for 1/5 of the 4,740 RSUs granted |
| 02/13/2024 | First vesting date for 1/5 of the 71,692 RSUs granted |
| 08/12/2024 | Date of RSU exercise and stock disposal. |
| 08/14/2024 | Date of Form 4 signature. |
| 02/12/2025 | First vesting date for 1/5 of the 21,281 RSUs granted |
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