Live Oak Bancshares (LOB) president gets RSU grant and converts shares

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. president William C. Losch III reported multiple equity compensation transactions. On February 9, 2026, he acquired 52,694 restricted stock units (RSUs), each representing one share of voting common stock, through a grant at an exercise price of $0.

On February 10, 2026, he exercised 9,030 RSUs, acquiring 9,030 shares of voting common stock at $0 per share, and 4,105 shares of voting common stock were disposed of at $41.04 per share to cover tax obligations. After these transactions, he directly owned 195,498 shares of voting common stock.

The filing also lists several existing RSU awards with different grant dates that vest in five equal annual installments beginning on dates from August 10, 2022 through February 12, 2025, and February 10, 2026 and February 9, 2027, contingent on continued service.

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

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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^*

Losch William C III

(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)
	President

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

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	02/10/2026		M		9,030	A	(1)	199,603	D
Voting Common Stock	02/10/2026		F		4,105	D	$41.04	195,498	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)	02/09/2026		A		52,694		(2)	(2)	Voting Common Stock	52,694	$0	52,694	D
Restricted Stock Units	(1)	02/10/2026		M			9,030	(3)	(3)	Voting Common Stock	9,030	$0	36,123	D
Restricted Stock Units	(1)							(4)	(4)	Voting Common Stock	42,000		42,000	D
Restricted Stock Units	(1)							(5)	(5)	Voting Common Stock	2,528		2,528	D
Restricted Stock Units	(1)							(6)	(6)	Voting Common Stock	53,769		53,769	D
Restricted Stock Units	(1)							(7)	(7)	Voting Common Stock	150,000		150,000	D
Restricted Stock Units	(1)							(8)	(8)	Voting Common Stock	44,066		44,066	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 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. The RSUs vest in five equal annual installments beginning on August 25, 2024, 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 February 12, 2025, 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	02/11/2026
	** 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).
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FAQ

What insider transactions did Live Oak Bancshares (LOB) report for William C. Losch III?

The filing shows President William C. Losch III received 52,694 restricted stock units, exercised 9,030 RSUs into voting common shares, and had 4,105 shares withheld at $41.04 each to satisfy tax obligations related to the equity compensation activity.

How many Live Oak Bancshares (LOB) shares does the president own after these Form 4 transactions?

After the reported transactions, President William C. Losch III directly owns 195,498 shares of Live Oak Bancshares voting common stock. This reflects the RSU exercise of 9,030 shares and the tax-withholding disposition of 4,105 shares reported in the Form 4 filing.

What restricted stock unit grant did Live Oak Bancshares (LOB) make to its president on February 9, 2026?

On February 9, 2026, Live Oak Bancshares granted President William C. Losch III 52,694 restricted stock units. Each RSU represents a contingent right to receive one share of the company’s voting common stock, with no exercise price disclosed in the filing.

How do the new RSUs for Live Oak Bancshares (LOB) president vest over time?

The newly granted RSUs to President William C. Losch III vest in five equal annual installments beginning February 9, 2027. Vesting is conditioned on his continuous service with Live Oak Bancshares or a related entity on each applicable vesting date, according to the disclosure.

What does the tax-withholding transaction at $41.04 mean in the Live Oak Bancshares (LOB) Form 4?

The Form 4 shows 4,105 shares of voting common stock disposed of at $41.04 under transaction code F. This indicates shares were withheld or delivered to satisfy tax liabilities arising from the RSU-related equity compensation, rather than an open-market sale.

What other RSU awards does the Live Oak Bancshares (LOB) president hold and how do they vest?

The filing lists several RSU awards tied to different grant dates that vest in five equal annual installments. Vesting begins on dates including August 10, 2022, February 14, 2023, February 13, 2024, August 25, 2024, February 12, 2025, and February 10, 2026, subject to continued service.