Live Oak Bancshares (NYSE: LOB) president converts RSUs and withholds shares for taxes
Rhea-AI Filing Summary
Live Oak Bancshares President William C. Losch III reported equity compensation activity involving restricted stock units and common shares. On February 17, 2026, he acquired 1,264 shares of voting common stock at $0.00 per share through the exercise or conversion of restricted stock units.
On the same date, 562 shares of voting common stock were disposed of at $40.75 per share to cover tax obligations associated with the equity award, leaving 212,278 shares of voting common stock held directly. Footnotes state that each restricted stock unit represents a contingent right to receive one common share and that several RSU grants vest in five equal annual installments beginning on various dates from 2022 through 2027, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,264 | $0.00 | -- |
| Exercise | Voting Common Stock | 1,264 | $0.00 | -- |
| Tax Withholding | Voting Common Stock | 562 | $40.75 | $23K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
Footnotes (1)
- 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. 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. 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. 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. 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. 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. 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.
