Live Oak (NASDAQ: LOB) CFO exercises stock units, covers taxes
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. (LOB) reported that its Chief Financial Officer, Walter J. Phifer, exercised restricted stock units into 2,916 shares of voting common stock on August 18, 2026. Of these shares, 1,296 were delivered or withheld at a price of $42.60 per share to pay the exercise price or tax liability. Phifer continues to hold several unvested RSU awards, each RSU representing a contingent right to receive one share of voting common stock, with underlying amounts of 236, 3,144, 6,009, 7,412, and 9,580 shares that vest in five equal annual installments beginning on various dates from December 15, 2022 through February 9, 2027, subject to continued service.
Positive
- None.
Negative
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Insider Trade Summary
Net Buyer: 1,620 shares
Net Buy
8 txns
Insider
Phifer Walter J
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1, F2 | 2,916 | $0.00 | $0.00 |
| Exercise | Voting Common Stock F1 | 2,916 | -- | -- |
| Exercise Price or Tax Liability | Voting Common Stock | 1,296 | $42.60 | $55K |
| holding | Restricted Stock Units F1, F3 | -- | -- | -- |
| holding | Restricted Stock Units F1, F4 | -- | -- | -- |
| holding | Restricted Stock Units F1, F5 | -- | -- | -- |
| holding | Restricted Stock Units F1, F6 | -- | -- | -- |
| holding | Restricted Stock Units F1, F7 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 38,046 shares (Direct);
Voting Common Stock — 11,723 shares (Direct)
Footnotes (7)
- F1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- F2. The RSUs vest in five equal annual installments beginning on August 18, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F3. The RSUs vest in five equal annual installments beginning on December 15, 2022, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F4. The RSUs vest in five equal annual installments beginning on December 9, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
- F5. 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.
- F6. 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.
- F7. 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.
Key Figures
RSUs Exercised: 2,916 shares
Shares Withheld for Exercise Price or Taxes: 1,296 shares
Withholding Price: $42.60 per share
+5 more
8 metrics
RSUs Exercised
2,916 shares
Restricted Stock Units converted into voting common stock on August 18, 2026
Shares Withheld for Exercise Price or Taxes
1,296 shares
Shares delivered or withheld to pay exercise price or tax liability on August 18, 2026
Withholding Price
$42.60 per share
Price applied to shares delivered or withheld for exercise price or tax liability
RSU Underlying Shares
236 shares
One RSU award representing 236 underlying shares of voting common stock
RSU Underlying Shares
3,144 shares
One RSU award representing 3,144 underlying shares of voting common stock
RSU Underlying Shares
6,009 shares
One RSU award representing 6,009 underlying shares of voting common stock
RSU Underlying Shares
7,412 shares
One RSU award representing 7,412 underlying shares of voting common stock
RSU Underlying Shares
9,580 shares
One RSU award representing 9,580 underlying shares of voting common stock
Key Terms
Restricted Stock Units, voting common stock, Payment of exercise price or tax liability, vest in five equal annual installments
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") 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.
voting common stock financial
"receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock"
Payment of exercise price or tax liability financial
"Payment of exercise price or tax liability by delivering or withholding securities"
vest in five equal annual installments financial
"The RSUs vest in five equal annual installments beginning on August 18, 2026"
FAQ
What insider transaction did LOB CFO Walter J. Phifer report on August 18, 2026?
Walter J. Phifer exercised 2,916 restricted stock units into voting common shares of Live Oak Bancshares, Inc. on August 18, 2026. This transaction reflects a derivative exercise/conversion rather than an open-market purchase or sale.
What ongoing RSU holdings tied to LOB stock does the CFO report?
The CFO reports multiple RSU awards, each representing one share of Live Oak Bancshares, Inc. stock per unit, with underlying amounts of 236, 3,144, 6,009, 7,412, and 9,580 shares. These RSUs vest in five annual installments, subject to continued service.
When do the newly reported LOB RSUs begin vesting for the CFO?
One RSU grant tied to this filing begins vesting on August 18, 2026 in five equal annual installments. Other RSU awards previously granted began vesting on dates including December 15, 2022; December 9, 2023; February 12, 2025; February 10, 2026; and February 9, 2027.
AI-generated analysis. How Rhea-AI works. Not financial advice.
