Live Oak Bancshares (LOB) director gets 2,486 restricted stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

McHenry Patrick Timothy reported acquisition or exercise transactions in this Form 4 filing.

Live Oak Bancshares, Inc. director Patrick Timothy McHenry reported an equity award of 2,486 restricted stock units. Each unit represents a contingent right to receive one share of Live Oak Bancshares voting common stock and vests on May 1, 2027. The filing also shows 3,080 shares of voting common stock held directly after the reported transactions.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider McHenry Patrick Timothy

Role null

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	2,486	$0.00	--
holding	Voting Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 2,486 shares (Direct, null); Voting Common Stock — 3,080 shares (Direct, null)

Footnotes (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, 2027.

Key Figures

Restricted stock units granted: 2,486 units RSU to share ratio: 1 share per unit RSU vesting date: May 1, 2027 +2 more

5 metrics

Restricted stock units granted 2,486 units Grant to director on May 19, 2026

RSU to share ratio 1 share per unit Each RSU equals one voting common share

RSU vesting date May 1, 2027 Vesting date for granted restricted stock units

Common shares held after 3,080 shares Voting common stock held directly after transactions

Grant price per RSU $0.00 per unit Reported transaction price for restricted stock units

Key Terms

Restricted Stock Units, voting common stock, contingent right to receive, vest

4 terms

Restricted Stock Units financial

"The restricted stock units vest on May 1, 2027."

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. voting common stock."

contingent right to receive financial

"Each restricted stock unit represents a contingent right to receive one share"

vest financial

"The restricted stock units vest on May 1, 2027."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Form 4 Insider Transactions: What Each Field Means →

05/21/2026 - 08:06 PM

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^*

McHenry Patrick Timothy

(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)
05/19/2026

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)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Voting Common Stock								3,080	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	05/19/2026		A		2,486		⁽²⁾	⁽²⁾	Voting Common Stock	2,486	$0	2,486	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, 2027.

Remarks:

	/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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Live Oak Bancshares (LOB) disclose for Patrick Timothy McHenry?

Live Oak Bancshares reported that director Patrick Timothy McHenry received 2,486 restricted stock units. These units are a form of equity compensation that, once vested, convert into shares of the company’s voting common stock, aligning the director’s interests with long-term shareholder value.

How many restricted stock units did the Live Oak Bancshares (LOB) director receive?

The director received 2,486 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares voting common stock, providing potential future ownership once vesting conditions are satisfied according to the grant’s terms.

When do the restricted stock units granted by Live Oak Bancshares (LOB) vest?

The restricted stock units vest on May 1, 2027. Vesting means that on this date, subject to any conditions in the grant, each unit converts into one share of Live Oak Bancshares voting common stock, increasing the director’s direct equity stake in the company.

What does each restricted stock unit from Live Oak Bancshares (LOB) represent?

Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares voting common stock. This structure grants future share ownership if vesting requirements are met, rather than providing cash, supporting long-term alignment between the director and other shareholders.

How many Live Oak Bancshares (LOB) shares does Patrick Timothy McHenry hold after the transactions?

After the reported transactions, Patrick Timothy McHenry holds 3,080 shares of Live Oak Bancshares voting common stock directly. This figure reflects his reported direct ownership and is separate from the 2,486 restricted stock units that will convert into shares only after vesting.