Executive at Live Oak Bancshares (LOB) converts RSUs and updates holdings
Rhea-AI Filing Summary
Live Oak Bancshares Chief Experience Officer Spencer Courtney reported equity award activity tied to restricted stock units (RSUs). On February 23, 2026, he exercised or converted 2,000 RSUs into 2,000 shares of voting common stock at a stated price of $0.00 per share, increasing his direct common stock position to 31,425 shares immediately after that step.
On the same date, 889 shares of voting common stock were disposed of at $38.30 per share to satisfy tax obligations associated with the equity award, leaving 30,536 shares of voting common stock held directly. He also reports multiple RSU awards that each represent the right to receive one share of common stock, vesting in annual installments beginning on dates ranging from February 14, 2023 to February 10, 2026, and an additional 153.7958 shares of voting common stock held indirectly by his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,000 | $0.00 | -- |
| Exercise | Voting Common Stock | 2,000 | $0.00 | -- |
| Tax Withholding | Voting Common Stock | 889 | $38.30 | $34K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. 2,000 of the RSUs vested on each of February 22, 2023, 2024 and 2025, and February 23, 2026. The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five equal annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five equal annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date. 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. 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.
