[Form 4] Live Oak Bancshares, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. insider equity activity: A company officer, the Chief Credit Officer of Live Oak Bancshares, Inc. (ticker LOB), reported routine equity transactions related to restricted stock units (RSUs) and associated common stock on December 8 and 9, 2025. The reporting person acquired 946 and 943 shares of voting common stock through RSU vesting on these dates, while 421 and 420 shares were withheld and disposed of at prices of $32.95 and $33.02 per share, respectively, typically for tax withholding. Following these transactions, the officer directly held 9,338 shares of voting common stock and continued to hold multiple blocks of RSUs that vest annually over several years, all contingent on continued service with the company.

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
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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^*

Cairns Michael

(Last) (First) (Middle)

1741 TIBURON DRIVE

(Street)

WILMINGTON NC 28403

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Live Oak Bancshares, Inc. [ LOB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Credit Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	12/08/2025		M		946	A	(1)	9,236	D
Voting Common Stock	12/08/2025		F		421	D	$32.95	8,815	D
Voting Common Stock	12/09/2025		M		943	A	(1)	9,758	D
Voting Common Stock	12/09/2025		F		420	D	$33.02	9,338	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)	12/08/2025		M			946	(2)	(2)	Voting Common Stock	946	$0	2,838	D
Restricted Stock Units	(1)	12/09/2025		M			943	(3)	(3)	Voting Common Stock	943	$0	1,886	D
Restricted Stock Units	(1)							(4)	(4)	Voting Common Stock	471		471	D
Restricted Stock Units	(1)							(5)	(5)	Voting Common Stock	145		145	D
Restricted Stock Units	(1)							(6)	(6)	Voting Common Stock	9,680		9,680	D
Restricted Stock Units	(1)							(7)	(7)	Voting Common Stock	6,413		6,413	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.

2. 945 of the RSUs vested on December 9, 2024, 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.

3. 943 of the RSUs vested on December 9, 2024 and 2025, and 943 of the RSUs will vest on each of December 9, 2026 and 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.

4. 235 of the RSUs vested on December 15, 2024, 235 of the RSUs will vest on December 15, 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.

5. 145 of the RSUs vested on February 22, 2025 and 145 of the RSUs will vest on February 22, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.

6. 2,420 of the RSUs vested on August 19, 2025 and 2,420 of the RSUs will vest on each of August 19, 2026, 2027, 2028, and 2029, subject to the reporting person's continuous service to the Company or a related entity on such date.

7. 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.

Remarks:

	/s/ Jonathan A. Greene, By Power of Attorney	12/10/2025
	** 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.

FAQ

What insider transaction did Live Oak Bancshares (LOB) report in this Form 4?

The filing reports that Live Oak Bancshares, Inc.'s Chief Credit Officer had restricted stock units (RSUs) vest on December 8 and 9, 2025, resulting in the acquisition of 946 and 943 shares of voting common stock and the withholding of some shares to cover obligations.

How many Live Oak Bancshares (LOB) shares does the officer own after these transactions?

After the reported transactions, the officer directly owned 9,338 shares of Live Oak Bancshares, Inc. voting common stock.

What prices were used for the share withholdings in the Live Oak Bancshares (LOB) Form 4?

The filing shows disposals of 421 shares at $32.95 per share on December 8, 2025, and 420 shares at $33.02 per share on December 9, 2025, in connection with RSU vesting.

How do the restricted stock units (RSUs) for Live Oak Bancshares (LOB) vest for this officer?

Each RSU represents a contingent right to receive one share of voting common stock. The RSUs vest in specified annual installments on dates including December 8 and 9 of 2026–2028, December 15 of 2025–2026, February 22 of 2026, August 19 of 2026–2029, and in five equal annual installments beginning on February 10, 2026, in each case subject to the officer’s continuous service.

What is the officer’s role at Live Oak Bancshares (LOB) mentioned in the Form 4?

The reporting person is identified as an officer of Live Oak Bancshares, Inc., serving as the company’s Chief Credit Officer.

Are the Live Oak Bancshares (LOB) RSUs reported here tied to voting common stock?

Yes. Each restricted stock unit reported represents a contingent right to receive one share of Live Oak Bancshares, Inc. voting common stock, subject to the vesting conditions described.