Live Oak Bancshares (LOB) officer exercises 14,000 options, sells stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. Chief Experience Officer Spencer Courtney reported an option exercise and share sale. On January 26, 2026, he exercised a stock option for 14,000 shares of voting common stock at $13.59 per share, increasing his direct holdings. The same day, he sold 9,700 shares of voting common stock at a weighted average price of $39.005 per share, in trades executed between $39.000 and $39.155, leaving 25,160 shares held directly. He also reports 153.7958 shares held indirectly by his spouse and multiple blocks of restricted stock units, each representing a contingent right to receive one share of voting common stock that vest over several annual installments.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 9,700 shares ($378,349)
Net Sell
9 txns
Insider
Spencer Courtney
Role
Chief Experience Officer
Sold
9,700 shs ($378K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 14,000 | $0.00 | -- |
| Exercise | Voting Common Stock | 14,000 | $13.59 | $190K |
| Sale | Voting Common Stock | 9,700 | $39.005 | $378K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 0 shares (Direct);
Voting Common Stock — 34,860 shares (Direct);
Restricted Stock Units — 3,160 shares (Direct);
Voting Common Stock — 153.796 shares (Indirect, By Spouse)
Footnotes (1)
- This transaction was executed in multiple trades at prices ranging from $39.000 to $39.155. 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. The shares subject to this option vested and became exercisable yearly in seven installments beginning on February 16, 2017, as follows: 10% of the shares subject to the option vested on each of February 16, 2017, 2018, 2019, 2020, and 2021; 25% of the shares subject to the option vested on February 16, 2022; and 25% of the shares subject to the option vested on February 16, 2023. 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 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. 2,000 of the RSUs will vest on each of February 22, 2023, 2024, 2025, and 2026, subject to the reporting person's continuous service to the Company or a related entity on such date. The RSUs vest in five 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. The RSUs vest in five 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. The RSUs vest in five 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.
FAQ
What insider transactions did LOB Chief Experience Officer Spencer Courtney report?
Spencer Courtney reported exercising 14,000 stock options at $13.59 per share and selling 9,700 shares of Live Oak Bancshares voting common stock at a weighted average price of $39.005 per share, all on January 26, 2026, as reflected in his Form 4 filing.
What stock option activity did the LOB insider report on this Form 4?
The filing shows Spencer Courtney exercised a stock option for 14,000 shares of Live Oak Bancshares voting common stock at an exercise price of $13.59 per share. Following this exercise, the option position was reduced to zero, and the acquired shares contributed to his updated direct holdings.