Live Oak Bancshares (NASDAQ: LOB) Form 4 shows RSU vesting and stock disposal

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. reported an insider equity transaction by its Chief Banking Officer on a Form 4. On December 9, 2025, 2,829 restricted stock units (RSUs) were exercised into voting common stock, increasing the officer’s directly held shares to 10,136 before a subsequent disposition. That same day, 1,258 voting common shares were disposed of at $33.02 per share, leaving the officer with 8,878 directly owned shares.

The filing also details several RSU awards. One grant has 2,830 RSUs scheduled to vest on December 9, 2026 and 2,829 on December 9, 2027, while other awards vest in annual installments from February 2026 through February 2030 and begin in May 2026. Each vesting is contingent on the officer’s continuous service with the company or a related entity on the stated dates.

Insider Trade Summary

2,829 shares exercised/converted

Mixed 8 txns

Insider Moroz Mark Michael

Role Chief Banking Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	2,829	$0.00	--
Exercise	Voting Common Stock	2,829	$0.00	--
Tax Withholding	Voting Common Stock	1,258	$33.02	$42K
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 — 5,659 shares (Direct); Voting Common Stock — 10,136 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. 2,829 of the RSUs vested on December 9, 2025, 2,830 of the RSUs will vest on December 9, 2026, and 2,829 of the RSUs will vest on December 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date. 1,852 of the RSUs will vest on February 10, 2026 and 1,853 of the RSUs will vest on each of February 10, 2027 and 2028, February 12, 2029 and February 11, 2030, subject to the reporting person's continuous service to the Company or a related entity on such date. 2,253 of the RSUs will vest on each of February 12, 2026 and 2027 and February 14, 2028 and 2,254 of the RSUs will vest on February 12, 2029, subject to the reporting person's continuous service to the Company or a related entity on such date. 1,580 of the RSUs will vest on each of February 17, 2026 and February 16, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date. 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. The RSUs vest in five pro-rata 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)
12/09/2025

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	12/09/2025		M		2,829	A	(1)	10,136	D
Voting Common Stock	12/09/2025		F		1,258	D	$33.02	8,878	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)	12/09/2025		M			2,829	(2)	(2)	Voting Common Stock	2,829	$0	5,659	D
Restricted Stock Units	(1)							(3)	(3)	Voting Common Stock	9,264		9,264	D
Restricted Stock Units	(1)							(4)	(4)	Voting Common Stock	9,013		9,013	D
Restricted Stock Units	(1)							(5)	(5)	Voting Common Stock	3,160		3,160	D
Restricted Stock Units	(1)							(6)	(6)	Voting Common Stock	4,000		4,000	D
Restricted Stock Units	(1)							(7)	(7)	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. 2,829 of the RSUs vested on December 9, 2025, 2,830 of the RSUs will vest on December 9, 2026, and 2,829 of the RSUs will vest on December 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.

3. 1,852 of the RSUs will vest on February 10, 2026 and 1,853 of the RSUs will vest on each of February 10, 2027 and 2028, February 12, 2029 and February 11, 2030, subject to the reporting person's continuous service to the Company or a related entity on such date.

4. 2,253 of the RSUs will vest on each of February 12, 2026 and 2027 and February 14, 2028 and 2,254 of the RSUs will vest on February 12, 2029, subject to the reporting person's continuous service to the Company or a related entity on such date.

5. 1,580 of the RSUs will vest on each of February 17, 2026 and February 16, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.

6. 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.

7. The RSUs vest in five pro-rata 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	12/10/2025
	** Signature of Reporting Person	Date
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