Live Oak Bancshares director sells 2,000 shares

Live Oak Bancshares, Inc. director David G. Lucht sold 2,000 shares of Voting Common Stock on August 4, 2026 at a weighted average price of $44.3605 per share, with individual trades between $44.18 and $44.38.

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. director David G. Lucht sold 2,000 shares of Voting Common Stock on August 4, 2026 at a weighted average price of $44.3605 per share, with individual trades between $44.18 and $44.38. After this sale, he directly holds 13,623 common shares.

He also holds 2,486 restricted stock units, each representing one share of voting common stock that vests on May 1, 2027, and 4,000 depositary shares, each representing a 1/40th interest in the company’s 8.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, with associated dividend, redemption, and liquidation rights.

Insider Trade Summary

Net Seller: 2,000 shares

Net Sell 3 txns

Insider LUCHT DAVID G

Role Director

Sold 2,000 shs ($89K)

Type	Security	Shares	Price	Value
Sale	Voting Common Stock F1	2,000	$44.3605	$89K
holding	Restricted Stock Units F3, F4	--	--	--
holding	Depositary Shares F2	--	--	--

Holdings After Transaction: Voting Common Stock — 13,623 shares (Direct); Restricted Stock Units — 2,486 contracts (Direct); Depositary Shares — 4,000 shares (Direct)

Footnotes (4)

1. F1. This transaction was executed in multiple trades at prices ranging from $44.18 to $44.38. 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.
2. F2. 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).
3. F3. Each restricted stock unit represents a contingent right to receive one share of the Company's voting common stock.
4. F4. The restricted stock units vest on May 1, 2027.

Key Figures

Shares sold: 2,000 shares Weighted average sale price: $44.3605 per share Sale price range: $44.18–$44.38 per share +5 more

8 metrics

Shares sold 2,000 shares Voting Common Stock sold by director on August 4, 2026

Weighted average sale price $44.3605 per share Weighted average price for 2,000 shares sold

Sale price range $44.18–$44.38 per share Range of prices for multiple trades on August 4, 2026

Common shares held after sale 13,623 shares Director’s direct Voting Common Stock holdings post-transaction

Restricted stock units outstanding 2,486 units Each RSU represents one share of voting common stock

RSU vesting date May 1, 2027 Vesting date for 2,486 restricted stock units

Depositary shares held 4,000 shares Each represents 1/40th interest in Series A preferred stock

Preferred dividend rate 8.375% Fixed rate on Non-Cumulative Perpetual Preferred Stock, Series A

Key Terms

Restricted Stock Units, Depositary Shares, 8.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, liquidation preference

4 terms

Restricted Stock Units financial

"Each restricted stock unit 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.

Depositary Shares financial

"Each depositary share represents a 1/40th interest in a share of preferred stock"

Depositary shares are tradable certificates that represent a fractional piece of a larger security held by a third-party bank, like owning a slice of a single big pie instead of the whole pie. They let companies issue and investors buy smaller, more affordable portions of preferred stock or other instruments; holders usually receive proportional dividends and market pricing similar to ordinary shares, but may have limited voting rights and different liquidity or tax implications, which can affect income and resale value.

8.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A financial

"represents a 1/40th interest in a share of Live Oak Bancshares, Inc. 8.375% Fixed Rate"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What transaction did Live Oak Bancshares (LOB) director David G. Lucht report?

David G. Lucht reported a sale of 2,000 shares of Live Oak Bancshares Voting Common Stock on August 4, 2026. This was an open-market or private transaction, leaving him with 13,623 common shares held directly after the sale.

At what price did the Live Oak Bancshares (LOB) director sell the 2,000 shares?

The 2,000 shares were sold at a weighted average price of $44.3605 per share. Individual trades occurred at prices ranging from $44.18 to $44.38, as disclosed, with detailed trade breakdowns available upon request from the reporting person.

How many Live Oak Bancshares (LOB) common shares does David G. Lucht own after the sale?

Following the reported sale, David G. Lucht directly holds 13,623 shares of Live Oak Bancshares Voting Common Stock. This post-transaction holding reflects only his direct ownership, separate from his restricted stock units and depositary shares positions.

What restricted stock units (RSUs) related to Live Oak Bancshares (LOB) does David G. Lucht hold?

David G. Lucht holds 2,486 restricted stock units, each representing a contingent right to receive one share of the company’s voting common stock. These RSUs are scheduled to vest on May 1, 2027, subject to their standard vesting conditions.

What are the Live Oak Bancshares (LOB) depositary shares held by the director?

He directly holds 4,000 depositary shares, each representing a 1/40th interest in a share of 8.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A. Each depositary share is tied to a $25.00 liquidation preference and proportional dividend and redemption rights.

Does the Live Oak Bancshares (LOB) Form 4 mention a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirming a trading plan for the reported sale. No footnote states that the August 4, 2026 trades were executed pursuant to a pre-arranged Rule 10b5-1 trading arrangement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/05/2026 - 04:20 PM Accepted by SEC EDGAR 08/05/2026 - 04:20 PM Learn about SEC filing dates

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^*

LUCHT DAVID G

(Last) (First) (Middle)

1741 TIBURON DRIVE

(Street)

WILMINGTON NORTH CAROLINA 28403

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Live Oak Bancshares, Inc. [ LOB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	08/04/2026		S		2,000	D	$44.3605(1)	13,623	D
Depositary Shares(2)								4,000	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	(3)							(4)	(4)	Voting Common Stock	2,486		2,486	D

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $44.18 to $44.38. 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.

2. 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).

3. Each restricted stock unit represents a contingent right to receive one share of the Company's voting common stock.

4. The restricted stock units vest on May 1, 2027.

Remarks:

	/s/ Jonathan A. Greene, By Power of Attorney	08/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)