Live Oak (NASDAQ: LOB) awards director 2,486 RSUs vesting in 2027
Rhea-AI Filing Summary
LUCHT DAVID G reported acquisition or exercise transactions in this Form 4 filing.
Live Oak Bancshares director David G. Lucht received a grant of 2,486 restricted stock units (RSUs) tied to the company’s voting common stock. The RSUs were awarded on May 19, 2026, carry no purchase price, and each unit represents a contingent right to receive one share of voting common stock.
The RSUs vest on May 1, 2027. After this award, Lucht directly holds 18,623 shares of voting common stock, 4,000 depositary shares linked to the 8.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, and 2,486 RSUs. This filing reflects a compensation-related equity grant rather than an open-market stock purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
LUCHT DAVID G
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 2,486 | $0.00 | $0.00 |
| holding | Voting Common Stock | -- | -- | -- |
| holding | Depositary Shares | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 2,486 shares (Direct);
Voting Common Stock — 18,623 shares (Direct);
Depositary Shares — 4,000 shares (Direct)
Footnotes (3)
- F1. Each depositary share represents a 1/40th interest in a share of Live Oak Bancshares, Inc. (the "Company") 8.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, no par value per share with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share) (the "Series A Preferred Stock"). Each depositary share entitles the holder to a proportional fractional interest in all rights and preferences of the Series A Preferred Stock (including dividend, redemption, and liquidation rights).
- F2. Each restricted stock unit represents a contingent right to receive one share of the Company's voting common stock.
- F3. The restricted stock units vest on May 1, 2027.
Key Figures
RSUs granted: 2,486 units
Common stock holdings: 18,623 shares
Depositary share holdings: 4,000 depositary shares
+3 more
6 metrics
RSUs granted
2,486 units
Restricted Stock Units awarded to director on May 19, 2026
Common stock holdings
18,623 shares
Voting common stock held directly after transactions
Depositary share holdings
4,000 depositary shares
Each equals 1/40 share of Series A preferred stock
Preferred dividend rate
8.375%
Fixed rate on Series A Non-Cumulative Perpetual Preferred Stock
Liquidation preference per preferred share
$1,000 per share
Series A preferred stock, equivalent to $25.00 per depositary share
RSU vesting date
May 1, 2027
Date when 2,486 restricted stock units vest
Key Terms
Depositary Shares, Non-Cumulative Perpetual Preferred Stock, Restricted Stock Units, liquidation preference, +1 more
5 terms
Non-Cumulative Perpetual Preferred Stock financial
"8.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, no par value per share"
Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of the Company's voting common stock."
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.
liquidation preference financial
"with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share)"
A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.
Fixed Rate financial
"8.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A"
A fixed rate is an interest percentage or return that does not change for the life of a loan, bond, deposit, or other financial contract, giving predictable payments or income like a lease with the same rent each month. For investors it matters because it locks in earnings or costs regardless of market swings, helping with budgeting and risk control but potentially missing out if market rates rise.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How many restricted stock units did LOB grant to director David G. Lucht?
Live Oak Bancshares granted David G. Lucht 2,486 restricted stock units. Each unit represents a contingent right to one share of voting common stock, providing equity-based compensation aligned with shareholder interests.
Are David G. Lucht’s transactions in this Live Oak Form 4 open-market trades?
No, the filing shows a compensation-related grant of 2,486 restricted stock units, not an open-market purchase or sale. The other entries reflect updated holdings of depositary shares and common stock, rather than new market transactions.