Form 4: Live Oak Bancshares General Counsel Gregory Seward Reports Stock Transactions
SEC Form 4 Filing
Gregory Seward, General Counsel of Live Oak Bancshares, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On February 12, 2025, Gregory W. Seward, General Counsel of Live Oak Bancshares, Inc., reported transactions involving the company's voting common stock.
- These transactions included the vesting of 2,754 restricted stock units (RSUs) and the subsequent disposition of 1,274 shares to satisfy tax obligations.
- Following these transactions, Seward directly owns 88,368 shares of Live Oak Bancshares voting common stock.
- Seward also holds options to purchase 13,500 shares and various tranches of unvested RSUs.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor potential alignment or misalignment of interests between management and shareholders.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in ownership, but the impact is likely insignificant given the relatively small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 11/19/2016 | Start date for vesting of employee stock options in yearly installments. |
| 02/22/2022 | Start date for vesting of 2,000 RSUs in five equal annual installments. |
| 02/14/2023 | Start date for vesting of 7,110 RSUs in five equal annual installments. |
| 02/13/2024 | Start date for vesting of 47,795 RSUs in five equal annual installments. |
| 11/19/2025 | Expiration date for employee stock options. |
| 02/10/2026 | Start date for vesting of 9,264 RSUs in five equal annual installments. |
| 02/12/2025 | Date of the reported transactions: vesting of RSUs and disposition of shares for tax obligations. |
| 02/12/2025 | Start date for vesting of 11,016 RSUs in five equal annual installments. |
| 02/14/2025 | Date of signature for the report. |
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