Live Oak exec exercises 2,420 stock units
Live Oak Bancshares, Inc. (LOB) reported that Chief Credit Officer Michael Cairns exercised 2,420 Restricted Stock Units, receiving an equal number of shares of Voting Common Stock.
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. (LOB) reported that Chief Credit Officer Michael Cairns exercised 2,420 Restricted Stock Units, receiving an equal number of shares of Voting Common Stock. On the same date, 1,076 shares of Voting Common Stock were delivered or withheld at $40.89 per share for payment of exercise price or tax liability, with all transactions reported as directly owned. Cairns continues to hold several blocks of RSUs, each representing contingent rights to receive additional shares of Voting Common Stock that vest over time, subject to his continuous service.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,420 shares exercised/converted
Exercise
8 txns
Insider
Cairns Michael
Role
Chief Credit Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1, F2 | 2,420 | $0.00 | $0.00 |
| Exercise | Voting Common Stock F1 | 2,420 | -- | -- |
| Exercise Price or Tax Liability | Voting Common Stock | 1,076 | $40.89 | $44K |
| holding | Restricted Stock Units F1, F3 | -- | -- | -- |
| holding | Restricted Stock Units F1, F4 | -- | -- | -- |
| holding | Restricted Stock Units F1, F5 | -- | -- | -- |
| holding | Restricted Stock Units F1, F6 | -- | -- | -- |
| holding | Restricted Stock Units F1, F7 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 28,129 contracts for 20,869 underlying shares (Direct);
Voting Common Stock — 11,528 shares (Direct)
Footnotes (7)
- F1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- F2. The RSUs vest in five equal annual installments beginning on August 19, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F3. 235 of the RSUs vested on each of December 15, 2024 and 2025, and 236 of the RSUs will vest on December 15, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F4. The RSUs vest in five equal annual installments beginning on December 9, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F5. 945 of the RSUs vested on December 9, 2024 and 946 of the RSUs vested on December 8, 2025, and 946 of the RSUs will vest on each of December 8, 2026, 2027, and 2028, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F6. 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.
- F7. The RSUs vest in five equal annual installments beginning on February 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
Key Figures
RSUs exercised: 2,420 Restricted Stock Units
Shares received on exercise: 2,420 shares of Voting Common Stock
Shares delivered/withheld for exercise price or tax liability: 1,076 shares
+3 more
6 metrics
RSUs exercised
2,420 Restricted Stock Units
Exercised into Voting Common Stock on August 19, 2026
Shares received on exercise
2,420 shares of Voting Common Stock
Result of RSU exercise on August 19, 2026
Shares delivered/withheld for exercise price or tax liability
1,076 shares
Code F transaction on August 19, 2026
Per-share value for payment of exercise price or tax liability
$40.89 per share
Applied to 1,076 shares of Voting Common Stock
RSU block underlying shares
10,778 underlying shares
Largest reported RSU position linked to Voting Common Stock
Additional RSU underlying blocks
236; 1,886; 2,838; 5,131 underlying shares
Other RSU awards remaining after reported transactions
Key Terms
Restricted Stock Units, Voting Common Stock, Payment of exercise price or tax liability, continuous service
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share"
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
"one share of Live Oak Bancshares, Inc. (the "Company") voting common stock"
Payment of exercise price or tax liability financial
"Payment of exercise price or tax liability by delivering or withholding securities"
continuous service financial
"subject to the reporting person's continuous service to the Company"
FAQ
What did LOB executive Michael Cairns report on this Form 4?
Michael Cairns exercised 2,420 RSUs into 2,420 shares of Live Oak Bancshares, Inc. Voting Common Stock, and 1,076 shares were delivered or withheld at $40.89 per share for payment of exercise price or tax liability, all as directly owned positions.
Are the LOB transactions by Michael Cairns reported as directly or indirectly owned?
All reported securities, including the 2,420 shares of Voting Common Stock and the RSU positions, are listed as directly owned by Michael Cairns.
Does Michael Cairns still hold RSUs in LOB after this Form 4?
Yes. He continues to hold several RSU awards, including tranches representing 236, 1,886, 2,838, 5,131, and 10,778 underlying shares of Live Oak Bancshares, Inc. Voting Common Stock, each vesting in scheduled annual installments subject to continuous service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
