Form 4: Live Oak Bancshares General Counsel Sells Shares
SEC Form 4 Filing
Gregory W. Seward, General Counsel of Live Oak Bancshares, Inc., sold shares of voting common stock on November 7, 2024.
Summary
- Gregory W. Seward, the General Counsel of Live Oak Bancshares, Inc., reported the sale of company stock on November 7, 2024.
- He sold 4,645 shares at a weighted average price of $46.5865 and 5,355 shares at a weighted average price of $47.3902.
- Following these transactions, Seward directly owns 86,882 shares of Live Oak Bancshares voting common stock.
- Seward also holds restricted stock units (RSUs) representing a contingent right to receive shares of Live Oak Bancshares voting common stock, vesting at various dates.
- He also holds an employee stock option (right to buy) 13,500 shares at $14.55, which became fully exercisable on November 19, 2022.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a sale of shares by an insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the transaction.
Industry Context
Form 4 filings are a routine part of the financial markets, 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.
Stakeholder Impact
- The sale of shares by a company insider could be perceived in various ways by stakeholders.
- Some may view it as a lack of confidence in the company's future prospects, while others may see it as a routine portfolio diversification strategy.
Key Dates
| Date | Description |
|---|---|
| 11/19/2016 | Employee stock option vesting began. |
| February 22, 2022 | First vesting date for 2,000 RSUs. |
| February 10, 2022 | 2,002 RSUs vested. |
| February 10, 2023 | 2,002 RSUs vested. |
| February 14, 2023 | First vesting date for 7,110 RSUs. |
| February 12, 2024 | 2,002 RSUs vested. |
| February 13, 2024 | First vesting date for 47,795 RSUs. |
| 11/07/2024 | Date of stock sale. |
| 11/08/2024 | Date of signature on the Form 4. |
| February 12, 2025 | First vesting date for 13,770 RSUs. |
| February 10, 2025 | 2,003 RSUs will vest. |
| 11/19/2025 | Expiration date for employee stock option. |
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