Live Oak (LOB) director gets 2,946 shares from RSU vesting

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. director Miltom Emmett Petty exercised restricted stock units into common shares as part of equity compensation. On May 1, 2026, 2,946 restricted stock units vested and were converted into the same number of shares of voting common stock at a stated price of $0.00 per share. Following this derivative exercise, Petty directly holds 130,839 shares of voting common stock. The filing shows an acquisition of shares through RSU vesting, with no open-market buying or selling reported.

Insider Trade Summary

2,946 shares exercised/converted

Mixed 2 txns

Insider Petty Miltom Emmett

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	2,946	$0.00	--
Exercise	Voting Common Stock	2,946	$0.00	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Voting Common Stock — 130,839 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 vested on May 1, 2026.

Key Figures

RSUs vested and exercised: 2,946 units/shares Shares after transaction: 130,839 shares Exercise price per share: $0.00 per share +1 more

4 metrics

RSUs vested and exercised 2,946 units/shares Restricted stock units vested and converted on May 1, 2026

Shares after transaction 130,839 shares Total voting common stock directly held after RSU conversion

Exercise price per share $0.00 per share Stated transaction price for RSU conversion to voting common stock

Transaction code M Exercise or conversion of derivative security (RSUs to common stock)

Key Terms

Restricted Stock Units, voting common stock, derivative security

3 terms

Restricted Stock Units financial

"The restricted stock units vested on May 1, 2026."

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.

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^*

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)
05/01/2026

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)

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		2,946	A	(1)	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	05/01/2026		M			2,946	(2)	(2)	Voting Common Stock	2,946	$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 vested on May 1, 2026.

Remarks:

	/s/ Jonathan A. Greene, By Power of Attorney	05/05/2026
	** 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 Miltom Emmett Petty?

Live Oak Bancshares reported that director Miltom Emmett Petty acquired shares through restricted stock unit vesting. On May 1, 2026, 2,946 RSUs vested and were converted into 2,946 shares of voting common stock as part of his equity compensation.

How many Live Oak Bancshares (LOB) shares did Petty acquire in this Form 4 filing?

Petty acquired 2,946 shares of Live Oak Bancshares voting common stock. These shares resulted from the vesting and conversion of 2,946 restricted stock units, with each RSU representing a contingent right to receive one share of voting common stock.

What is Petty’s total Live Oak Bancshares (LOB) shareholding after this RSU vesting?

After the transaction, Petty directly holds 130,839 shares of Live Oak Bancshares voting common stock. This total reflects his position following the conversion of 2,946 restricted stock units into an equal number of common shares reported in the filing.

Was the Live Oak Bancshares (LOB) insider transaction an open-market trade?

No, it was not an open-market trade. The Form 4 shows a code “M” transaction, meaning Petty’s 2,946 shares were acquired through the exercise and vesting of restricted stock units, not by buying or selling shares in the open market.

What do the restricted stock units in the Live Oak Bancshares (LOB) filing represent?

Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares voting common stock. In this filing, 2,946 RSUs vested on May 1, 2026, and were converted into 2,946 shares, eliminating that RSU balance.