Form 4: Live Oak Bancshares Executive Stephanie Mann Reports Stock Transactions
SEC Form 4
Stephanie Mann, Chief Strategy Officer of Live Oak Bancshares, reports the vesting and disposal of restricted stock units.
Summary
- On February 12, 2025, Stephanie Mann, Chief Strategy Officer of Live Oak Bancshares, Inc., reported transactions involving Live Oak Bancshares voting common stock.
- Mann acquired 2,253 shares through the vesting of restricted stock units (RSUs) and disposed of 767 shares to cover tax obligations.
- The disposal was executed at a price of $34.8 per share.
- Following these transactions, Mann directly owns 31,235 shares of voting common stock and 9,013 RSUs that have vested.
- The RSUs vest in installments over several years, contingent upon continued service to the company.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Future Outlook
The reporting person's future RSU vesting is contingent upon continued service to the company.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- The vesting schedules and terms described are typical for RSU grants in the financial services industry.
- Comparable companies such as Truist Financial and Regions Financial also utilize RSUs as part of their executive compensation plans.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax-related stock disposals.
Key Dates
| Date | Description |
|---|---|
| 02/22/2023 | 2,000 RSUs vested. |
| 02/10/2023 | 1,112 of the RSUs vested. |
| 02/13/2024 | RSUs vest in five equal annual installments beginning on this date. |
| 02/12/2024 | 1,113 of the RSUs vested. |
| 02/22/2024 | 2,000 RSUs vested. |
| 02/12/2025 | Date of transaction; RSUs vest in five equal annual installments beginning on this date; 2,253 shares acquired through RSU vesting; 767 shares disposed of for tax obligations. |
| 02/10/2025 | 1,112 of the RSUs vested. |
| 02/22/2025 | 2,000 RSUs will vest. |
| 02/14/2023 | RSUs vest in five equal annual installments beginning on this date. |
| 02/10/2026 | RSUs vest in five equal annual installments beginning on this date; 2,780 of the RSUs will vest. |
| 02/22/2026 | 2,000 RSUs will vest. |
| 02/10/2027 | 2,782 of the RSUs will vest. |
| 02/14/2025 | Date of signature. |
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