Live Oak Bancshares CFO reports RSU grant and share disposition
Rhea-AI Filing Summary
Live Oak Bancshares insider transaction summary: Walter J. Phifer, Chief Financial Officer, reported a disposal of 5,743 shares of the company's voting common stock on 08/18/2025. On the same date he was granted 14,581 restricted stock units (RSUs) that convert one-for-one into voting common stock and vest in five equal annual installments beginning on August 18, 2026, subject to continued service.
The filing also lists several previously granted RSU tranches with staggered vesting dates and an employee stock option exercisable for 6,160 shares (exercise price $13.59) that vested in multiple installments through February 16, 2023. All reported equity holdings are held directly by the reporting person.
Positive
- 14,581 RSUs granted on 08/18/2025 that convert one-for-one into voting common stock, supporting long-term retention
- Employee stock option for 6,160 shares is exercisable (exercise price $13.59) and fully vested through 2023
Negative
- Disposition of 5,743 voting shares reported on 08/18/2025
- No cash proceeds or sale price disclosed for the disposed shares in this filing
Insights
TL;DR: Routine insider equity activity: a sale plus a new RSU grant with standard multi-year vesting tied to continued service.
The disposal of 5,743 voting shares is reported alongside a contemporaneous grant of 14,581 RSUs that vest over five years beginning August 18, 2026. This structure is consistent with retention-focused compensation practices and aligns executive incentives with long-term service. The filing shows the CFO holds multiple RSU tranches with staggered vesting and an outstanding employee stock option for 6,160 shares at a $13.59 strike that fully vested through 2023. There are no indications of indirect holdings or third-party arrangements in the disclosure.
TL;DR: Grant and prior vesting activity are typical for executive compensation; transaction appears administrative rather than transformative.
The 14,581 RSU grant and prior tranches create multi-year vesting schedules that will deliver shares contingent on continued service. The option described has completed its vesting schedule through 2023 and remains exercisable for 6,160 shares at a $13.59 exercise price. The reported disposal of 5,743 shares reduces immediate share ownership but is offset by forthcoming RSU issuances. No cash compensation amounts or proceeds from the disposition are disclosed in this Form 4.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 14,581 | $0.00 | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Voting Common Stock | -- | -- | -- |
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 August 18, 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 February 22, 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 December 15, 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 December 9, 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 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date. 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 each of February 16, 2022 and 2023.
