Director at Live Oak Bancshares (LOB) converts 1,890 RSUs into common shares

Rhea-AI Filing Summary

Live Oak Bancshares director Jeffrey W. Lunsford reported a routine equity compensation event. On May 1, 2026, he exercised 1,890 restricted stock units, receiving the same number of shares of Voting Common Stock at a stated price of $0.00 per share.

Following the transaction, Lunsford directly holds 12,640 shares of Voting Common Stock. Footnotes explain that each restricted stock unit represented a contingent right to receive one share of voting common stock and that these units vested on May 1, 2026. The filing shows no open-market purchases or sales, only the conversion of equity awards.

Insights

Equity compensation and insider-trading analyst

Director converted vested RSUs into shares, with no open-market trading.

Director Jeffrey W. Lunsford exercised 1,890 restricted stock units into the same number of Voting Common Stock shares on May 1, 2026. The stated exercise price is $0.00, consistent with RSUs that settle into shares at vesting.

After this conversion, he directly holds 12,640 shares. The transactionSummary shows no buys or sells, only one derivative exercise totaling 1,890 shares. With derivativeSummary empty, this appears to exhaust the RSUs referenced here, making it a standard, compensation-driven event rather than a market-timing signal.

Insider Trade Summary

1,890 shares exercised/converted

Mixed 2 txns

Insider Lunsford Jeffrey W

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,890	$0.00	--
Exercise	Voting Common Stock	1,890	$0.00	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Voting Common Stock — 12,640 shares (Direct, null)

Footnotes (1)

1. Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares, Inc. voting common stock. The restricted stock units vest on May 1, 2026.

Key Figures

RSUs exercised: 1,890 units Common shares received: 1,890 shares Shares held after transaction: 12,640 shares +2 more

5 metrics

RSUs exercised 1,890 units Restricted Stock Units converted on May 1, 2026

Common shares received 1,890 shares Voting Common Stock from RSU exercise on May 1, 2026

Shares held after transaction 12,640 shares Director’s direct Voting Common Stock holdings post-transaction

Exercise price per share $0.00 per share Stated price for RSU conversion into Voting Common Stock

Derivative exercises in filing 1 transaction, 1,890 shares transactionSummary exerciseCount and exerciseShares

Key Terms

Restricted Stock Units, Voting Common Stock, derivative security, derivative exercise/conversion

4 terms

Restricted Stock Units financial

"Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares, Inc. voting common stock."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Voting Common Stock financial

"Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares, Inc. voting common stock."

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

derivative exercise/conversion financial

"transaction_action: derivative exercise/conversion"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lunsford Jeffrey W

(Last) (First) (Middle)

1741 TIBURON DRIVE

(Street)

WILMINGTON NORTH CAROLINA 28403

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Live Oak Bancshares, Inc. [ LOB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
05/05/2026

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Voting Common Stock	05/01/2026		M		1,890	A	(1)	12,640	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	05/01/2026		M			1,890	(2)	(2)	Voting Common Stock	1,890	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares, Inc. voting common stock.

2. The restricted stock units vest on May 1, 2026.

Remarks:

This amendment is being filed solely to correct the name of the reporting person, which was incorrect on the original Form 4 filed on May 5, 2026, due to an inadvertent data entry error. The original filing otherwise remains unchanged.

	/s/ Jonathan A. Greene, By Power of Attorney	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Live Oak Bancshares (LOB) report for Jeffrey W. Lunsford?

Live Oak Bancshares reported that director Jeffrey W. Lunsford exercised 1,890 restricted stock units into 1,890 shares of Voting Common Stock on May 1, 2026. This was an equity award conversion, not an open-market purchase or sale.

Did Jeffrey W. Lunsford buy or sell Live Oak Bancshares (LOB) shares on the open market?

No. The Form 4/A shows no open-market buys or sells by Jeffrey W. Lunsford. He only exercised 1,890 restricted stock units, receiving 1,890 Voting Common Stock shares as part of his equity compensation package.

How many Live Oak Bancshares (LOB) shares does Jeffrey W. Lunsford hold after this filing?

After exercising 1,890 restricted stock units, Jeffrey W. Lunsford directly holds 12,640 shares of Live Oak Bancshares Voting Common Stock. This total is reported in the Form 4/A as his direct ownership following the transaction.

What are the terms of the restricted stock units reported by Live Oak Bancshares (LOB)?

Each restricted stock unit represented a contingent right to receive one share of Live Oak Bancshares Voting Common Stock. Footnotes state that these restricted stock units vested on May 1, 2026 and were then converted into 1,890 common shares.

How many derivative securities did Jeffrey W. Lunsford exercise in this Live Oak Bancshares (LOB) filing?

The transactionSummary shows one derivative exercise of 1,890 shares. These represent restricted stock units that converted into 1,890 shares of Voting Common Stock, with no remaining units listed in the derivativeSummary after the transaction.

Is the May 1, 2026 Live Oak Bancshares (LOB) Form 4/A transaction considered routine?

Yes. The filing reflects a routine compensation-related event where 1,890 restricted stock units vested and converted into common shares. There were no reported open-market purchases, sales, or tax-withholding dispositions associated with this transaction.