Live Oak Bancshares, Inc. Files Definitive Proxy Statement

Ticker: LOB-PA · Form: DEF 14A · Filed: Apr 5, 2024 · CIK: 1462120

Live Oak Bancshares, INC. DEF 14A Filing Summary
FieldDetail
CompanyLive Oak Bancshares, INC. (LOB-PA)
Form TypeDEF 14A
Filed DateApr 5, 2024
Risk Levellow
Pages16
Reading Time20 min
Key Dollar Amounts$25,894,657, $42,000,000, $2,000,000, $4,466,453
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Live Oak Bancshares, Shareholder Meeting, Corporate Governance

TL;DR

<b>Live Oak Bancshares, Inc. has filed its Definitive Proxy Statement for the fiscal year ended December 31, 2023.</b>

AI Summary

Live Oak Bancshares, Inc. (LOB-PA) filed a Proxy Statement (DEF 14A) with the SEC on April 5, 2024. Filing type: DEF 14A (Definitive Proxy Statement). Reporting period: Fiscal year ended December 31, 2023. Filed as of date: April 5, 2024. Company SIC code: 6022 (State Commercial Banks). Incorporation state: North Carolina.

Why It Matters

For investors and stakeholders tracking Live Oak Bancshares, Inc., this filing contains several important signals. This filing is a standard DEF 14A, indicating it contains information for shareholders regarding upcoming meetings, executive compensation, and other corporate governance matters. The filing covers the fiscal year 2023, providing a snapshot of the company's performance and disclosures relevant to shareholder voting and decision-making.

Risk Assessment

Risk Level: low — Live Oak Bancshares, Inc. shows low risk based on this filing. The filing is a routine DEF 14A, containing standard disclosures and no immediate red flags.

Analyst Insight

Review the proxy statement for details on executive compensation, board proposals, and voting matters to make informed decisions.

Key Numbers

Key Players & Entities

FAQ

When did Live Oak Bancshares, Inc. file this DEF 14A?

Live Oak Bancshares, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 5, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Live Oak Bancshares, Inc. (LOB-PA).

Where can I read the original DEF 14A filing from Live Oak Bancshares, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Live Oak Bancshares, Inc..

What are the key takeaways from Live Oak Bancshares, Inc.'s DEF 14A?

Live Oak Bancshares, Inc. filed this DEF 14A on April 5, 2024. Key takeaways: Filing type: DEF 14A (Definitive Proxy Statement). Reporting period: Fiscal year ended December 31, 2023. Filed as of date: April 5, 2024.

Is Live Oak Bancshares, Inc. a risky investment based on this filing?

Based on this DEF 14A, Live Oak Bancshares, Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, containing standard disclosures and no immediate red flags.

What should investors do after reading Live Oak Bancshares, Inc.'s DEF 14A?

Review the proxy statement for details on executive compensation, board proposals, and voting matters to make informed decisions. The overall sentiment from this filing is neutral.

How does Live Oak Bancshares, Inc. compare to its industry peers?

Live Oak Bancshares operates within the State Commercial Banks industry, as indicated by its SIC code.

Are there regulatory concerns for Live Oak Bancshares, Inc.?

The filing is made pursuant to Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

Industry Context

Live Oak Bancshares operates within the State Commercial Banks industry, as indicated by its SIC code.

Regulatory Implications

The filing is made pursuant to Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

What Investors Should Do

  1. Review the proxy statement for details on executive compensation packages.
  2. Examine any proposals being put forth for shareholder vote.
  3. Understand the company's corporate governance practices as outlined in the filing.

Year-Over-Year Comparison

This is a DEF 14A filing for the fiscal year 2023, following the standard reporting requirements for public companies.

Filing Stats: 4,903 words · 20 min read · ~16 pages · Grade level 11.4 · Accepted 2024-04-05 15:13:45

Key Financial Figures

Filing Documents

EXECUTIVE COMPENSATION AND OTHER MATTERS

EXECUTIVE COMPENSATION AND OTHER MATTERS 29 PROPOSAL 2: APPROVAL OF AMENDMENT OF THE COMPANY'S EMPLOYEE STOCK PURCHASE PLAN 51 PROPOSAL 3: NON-BINDING, ADVISORY VOTE ON EXECUTIVE COMPENSATION 57 PROPOSAL 4: RATIFICATION OF INDEPENDENT AUDITORS 58 OTHER MATTERS 61 PROPOSALS FOR 2025 ANNUAL MEETING 61 HOUSEHOLDING MATTERS 61 SHAREHOLDER COMMUNICATIONS 61 ANNUAL REPORT ON FORM 10-K 62 APPENDIX A: FORM OF AMENDMENT OF THE COMPANY'S EMPLOYEE STOCK PURCHASE PLAN A -1 LIVE OAK BANCSHARES, INC. PROXY STATEMENT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD MAY 21, 2024 GENERAL INFORMATION This Proxy Statement is being furnished in connection with the solicitation by the Board of Directors of Live Oak Bancshares, Inc. (the "Company") of appointments of proxy for use at the annual meeting of the Company's shareholders (the "Annual Meeting") to be held on May 21, 2024, at 9:00 a.m., at the Company's corporate offices located at 1741 Tiburon Drive, Wilmington, North Carolina 28403, and at any adjournments thereof. The Company's proxy solicitation materials are being made available to our shareholders on or about April 5, 2024. In this Proxy Statement, the Company's subsidiary bank, Live Oak Banking Company, is referred to as "Live Oak Bank" or the "Bank." The mailing address of the Company's principal executive offices is 1741 Tiburon Drive, Wilmington, North Carolina 28403. Internet Availability of Proxy Materials We are providing proxy materials to our shareholders primarily via the internet instead of mailing printed copies of those materials to each shareholder. By doing so, we save costs and reduce the environmental impact of the Annual Meeting. On or about April 5, 2024, we mailed a Notice of Internet Availability of Proxy Materials (the "Internet Notice") to our shareholders. The Internet Notice contains instructions about how to access our proxy materials and vote. If you would like to receive a paper copy of our proxy materials, please

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