Executive at Live Oak Bancshares (LOB) converts RSUs and withholds shares for tax

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. Chief Banking Officer Mark Michael Moroz reported equity award activity involving restricted stock units (RSUs) and common stock. He exercised or converted 4,000 RSUs into 4,000 shares of voting common stock at a stated price of $0.00 per share, increasing his direct common share holdings. On the same date, 1,778 shares of voting common stock were disposed of at $38.30 per share to satisfy tax obligations associated with the equity award, a tax-withholding disposition rather than an open-market sale. Following these transactions, he directly held 14,256 shares of voting common stock. Footnotes explain that each RSU converts into one share of voting common stock and that multiple RSU awards vest in scheduled annual installments beginning on dates in 2025, 2026, and 2027, subject to his continued service with the company.

Insider Trade Summary

4,000 shares exercised/converted

Mixed 9 txns

Insider Moroz Mark Michael

Role Chief Banking Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	4,000	$0.00	--
Exercise	Voting Common Stock	4,000	$0.00	--
Tax Withholding	Voting Common Stock	1,778	$38.30	$68K
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: Restricted Stock Units — 0 shares (Direct); Voting Common Stock — 16,034 shares (Direct)

Footnotes (1)

1. 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 vested on February 23, 2026. The RSUs vest in two equal annual installments beginning on February 14, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in four equal annual installments beginning on February 12, 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 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 three equal annual installments beginning on December 9, 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 May 19, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.

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^*

Moroz Mark 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 Banking Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

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	02/23/2026		M		4,000	A	(1)	16,034	D
Voting Common Stock	02/23/2026		F		1,778	D	$38.3	14,256	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)	02/23/2026		M			4,000	(2)	(2)	Voting Common Stock	4,000	$0	0	D
Restricted Stock Units	(1)							(3)	(3)	Voting Common Stock	1,580		1,580	D
Restricted Stock Units	(1)							(4)	(4)	Voting Common Stock	6,760		6,760	D
Restricted Stock Units	(1)							(5)	(5)	Voting Common Stock	8,982		8,982	D
Restricted Stock Units	(1)							(6)	(6)	Voting Common Stock	7,412		7,412	D
Restricted Stock Units	(1)							(7)	(7)	Voting Common Stock	5,659		5,659	D
Restricted Stock Units	(1)							(8)	(8)	Voting Common Stock	35,587		35,587	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. The RSUs vested on February 23, 2026.

3. The RSUs vest in two equal annual installments beginning on February 14, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.

4. The RSUs vest in four equal annual installments beginning on February 12, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.

5. 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.

6. 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.

7. The RSUs vest in three equal annual installments beginning on December 9, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.

8. The RSUs vest in five equal annual installments beginning on May 19, 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	02/25/2026
	** 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.

FAQ

What insider transactions did LOB executive Mark Michael Moroz report?

Mark Michael Moroz reported exercising 4,000 restricted stock units into 4,000 shares of Live Oak Bancshares voting common stock, then disposing of 1,778 shares at $38.30 per share to cover related tax obligations, leaving him with 14,256 directly held common shares.

How many Live Oak Bancshares (LOB) shares does Mark Michael Moroz now hold?

After the reported transactions, Mark Michael Moroz directly holds 14,256 shares of Live Oak Bancshares voting common stock. This reflects the conversion of 4,000 RSUs into common shares and the tax-withholding disposition of 1,778 shares tied to the same equity award event.

Were the LOB insider transactions open-market buys or tax-related?

The filing shows a derivative exercise of 4,000 restricted stock units into common stock and a tax-withholding disposition of 1,778 shares at $38.30 per share. The disposition is explicitly described as satisfying tax liability, not as an open-market sale transaction by the executive.

What do the restricted stock units (RSUs) reported by LOB’s Mark Michael Moroz represent?

Each restricted stock unit reported represents a contingent right to receive one share of Live Oak Bancshares voting common stock. The RSUs convert into common shares upon vesting, aligning the executive’s compensation with the company’s equity over time through scheduled vesting dates.

When do Mark Michael Moroz’s LOB RSU awards vest?

One RSU grant vested on February 23, 2026, and several other RSU awards vest in equal annual installments beginning on dates such as February 14, 2026, February 12, 2026, February 9, 2027, February 10, 2026, December 9, 2025, and May 19, 2026, subject to continued service.

Is the LOB insider disposition by Mark Michael Moroz a traditional stock sale?

The filing describes the 1,778-share disposition as payment of tax liability by delivering securities, coded as a tax-withholding transaction. This indicates the shares were used to satisfy taxes tied to equity awards rather than representing a discretionary open-market sale of shares.