Live Oak (NASDAQ: LOB) CIO sells 75,000 shares around $37.83
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. chief information and digital officer Renato Derraik reported an open-market sale of 75,000 shares of voting common stock on April 30, 2026. The shares were sold at a weighted average price of $37.828, with individual trades between $37.51 and $38.095.
Following the sale, Derraik directly holds 4,243 shares of voting common stock. He also holds several restricted stock unit awards, each representing a contingent right to receive one share of voting common stock and vesting in five equal annual installments beginning on various February and August dates between 2022 and 2027, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 75,000 shares ($2,837,100)
Net Sell
7 txns
Insider
Derraik Renato
Role
Chief Info./Digital Off., Bank
Sold
75,000 shs ($2.84M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Voting Common Stock | 75,000 | $37.828 | $2.84M |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Voting Common Stock — 4,243 shares (Direct, null);
Restricted Stock Units — 1,580 shares (Direct, null)
Footnotes (1)
- This transaction was executed in multiple trades at prices ranging from $37.51 to $38.095. The price reported in Column 4 is a weighted average price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the trades were effected. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock. 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. The RSUs vest in five equal annual installments beginning on August 10, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
Key Figures
Shares sold: 75,000 shares
Weighted average sale price: $37.828/share
Sale price range: $37.51–$38.095/share
+3 more
6 metrics
Shares sold
75,000 shares
Voting common stock sold on April 30, 2026
Weighted average sale price
$37.828/share
Open-market sale of 75,000 shares
Sale price range
$37.51–$38.095/share
Multiple trades comprising the 75,000-share sale
Shares held after sale
4,243 shares
Direct voting common stock ownership post-transaction
Largest RSU grant
35,846 underlying shares
Restricted stock units, vesting over five years from February 9, 2027
Other RSU grants
1,580–25,000 underlying shares
Additional RSU awards with five-year annual vesting from 2022–2026
Key Terms
Restricted Stock Units, voting common stock, weighted average price, vest in five equal annual installments, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents a contingent right to receive 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.
voting common stock financial
"one share of Live Oak Bancshares, Inc. (the "Company") voting common stock."
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
vest in five equal annual installments financial
"The RSUs vest in five equal annual installments beginning on February 14, 2023..."
contingent right financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share..."
FAQ
What insider transaction did LOB executive Renato Derraik report?
Renato Derraik reported selling 75,000 shares of Live Oak Bancshares voting common stock. The open-market sale occurred on April 30, 2026 at a weighted average price of $37.828 per share, as disclosed in the Form 4 filing.
How are the LOB restricted stock units (RSUs) structured for this insider?
Each restricted stock unit represents a contingent right to receive one share of voting common stock. The RSUs vest in five equal annual installments, with different grants beginning to vest on specific February and August dates from 2022 through 2027.