Live Oak Bancshares (LOB) CFO files Form 4 for RSU vesting and tax withholding
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. CFO reports equity award activity. On 12/09/2025, the reporting person, the company’s Chief Financial Officer, acquired 1,572 shares of voting common stock through the vesting and settlement of restricted stock units. On the same date, 729 shares of voting common stock were disposed of at $33.02 per share in a transaction coded "F," reflecting shares withheld to cover taxes. After these transactions, the reporting person directly owned 6,586 shares of voting common stock.
The filing also lists multiple tranches of restricted stock units, each representing one share of voting common stock, that vest in five equal annual installments beginning on various dates from February 22, 2022 through August 18, 2026, subject to continued service. In addition, an employee stock option covering 6,160 shares at an exercise price of $13.59 is shown as fully vested and exercisable in yearly installments that began on February 16, 2017.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,572 | $0.00 | -- |
| Exercise | Voting Common Stock | 1,572 | $0.00 | -- |
| Tax Withholding | Voting Common Stock | 729 | $33.02 | $24K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. The RSUs vest in five equal annual installments beginning on December 9, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five equal annual installments beginning on February 22, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five equal annual installments beginning on December 15, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five equal annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five equal annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five equal annual installments beginning on August 18, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date. The shares subject to this option vested and became exercisable yearly in seven installments beginning on February 16, 2017, as follows: 10% of the shares subject to the option vested on each of February 16, 2017, 2018, 2019, 2020, and 2021; 25% of the shares subject to the option vested on each of February 16, 2022 and 2023.
