Live Oak Bancshares (LOB) director receives 2,486 RSUs vesting in 2027

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Petty Miltom Emmett reported acquisition or exercise transactions in this Form 4 filing.

Live Oak Bancshares, Inc. director Miltom Emmett Petty reported an equity compensation grant and updated holdings. He received 2,486 Restricted Stock Units (RSUs), each representing a contingent right to one share of voting common stock. These RSUs vest on May 1, 2027. Following the reported transactions, he directly holds 130,839 shares of voting common stock and 2,486 RSUs. The RSU grant is compensation-related and is not an open‑market stock purchase or sale.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Petty Miltom Emmett

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 — 130,839 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

RSUs granted: 2,486 units RSU vesting date: May 1, 2027 Common shares held: 130,839 shares +1 more

4 metrics

RSUs granted 2,486 units Restricted Stock Units grant on May 19, 2026

RSU vesting date May 1, 2027 Vesting date for 2,486 RSUs

Common shares held 130,839 shares Voting common stock held directly after transactions

Underlying common shares 2,486 shares Shares underlying RSUs representing contingent rights

Key Terms

Restricted Stock Units, contingent right, vesting

3 terms

Restricted Stock Units financial

"The director received 2,486 Restricted Stock Units (RSUs), each representing a contingent right to 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.

contingent right financial

"Each restricted stock unit represents a contingent right to receive one share of voting common stock."

vesting financial

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

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Form 4 Insider Transactions: What Each Field Means →

05/21/2026 - 08:10 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^*

Petty Miltom Emmett

(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								130,839	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) report for Miltom Emmett Petty?

Live Oak Bancshares director Miltom Emmett Petty reported receiving 2,486 Restricted Stock Units as an equity award. Each RSU represents a contingent right to one share of voting common stock, with no purchase or sale of shares in the open market disclosed.

How many Restricted Stock Units did the Live Oak Bancshares director receive?

The director received 2,486 Restricted Stock Units. Each unit represents a contingent right to receive one share of Live Oak Bancshares voting common stock, providing additional equity-based compensation that may convert into shares once vesting conditions are satisfied according to the grant terms.

When do the new Restricted Stock Units for Live Oak Bancshares (LOB) vest?

The 2,486 Restricted Stock Units granted to the Live Oak Bancshares director vest on May 1, 2027. Vesting means the right to receive underlying common shares becomes earned at that date, assuming any service or other conditions associated with the award are met.

How many Live Oak Bancshares common shares does the director hold after this Form 4?

After the reported transactions, the director holds 130,839 shares of Live Oak Bancshares voting common stock directly. In addition, he holds 2,486 Restricted Stock Units, which each relate to one share of common stock that may be delivered after vesting on May 1, 2027.

Is the Live Oak Bancshares (LOB) RSU grant an open-market stock purchase?

No, the RSU grant is described as a grant, award, or other acquisition, not an open-market purchase. The 2,486 Restricted Stock Units are equity compensation that provide a contingent right to receive common shares rather than shares bought on the stock market.

What type of security underlies the granted RSUs at Live Oak Bancshares?

The granted Restricted Stock Units are tied to Live Oak Bancshares voting common stock. Each of the 2,486 RSUs corresponds to one share of this underlying security, which may be delivered upon vesting, aligning the director’s compensation more closely with shareholder interests over time.