[Form 4] Live Oak Bancshares, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Live Oak Bancshares insider reporting: William C. Losch III, President and director, reported transactions on 08/25/2025 involving restricted stock units and common shares. He was credited with 50,000 RSUs (each representing one share) and the filing lists multiple outstanding RSU awards totaling scheduled vesting in annual installments beginning between 2022 and 2026. The report also shows a disposition of 22,221 common shares at $37.70 per share, reducing his beneficial ownership of voting common stock from 212,794 to 190,573 following the transactions. The form is signed by power of attorney on 08/27/2025.

Positive

• 50,000 RSUs recorded, representing contingent rights to 50,000 shares
• Detailed vesting schedules provided, showing staged recognition of compensation from 2022 through 2026

Negative

• Disposition of 22,221 shares at $37.70 reduced beneficial ownership from 212,794 to 190,573

Insights

Securities Analyst

TL;DR: Transactions reflect RSU vesting and a reported sale that lowered the officer's beneficial shareholding.

These entries show compensation-related equity (RSUs) being recorded and an executed disposition of 22,221 shares at $37.70. Beneficial ownership falls to 190,573 shares after the report. The RSU schedule in the explanation indicates multi-year vesting start dates from 2022 through 2026, confirming staggered compensation recognition. For investors, this is a routine insider filing documenting awarded equity and a separate share disposition; the filing does not disclose reasons for the sale or any additional agreements.

Corporate Governance Expert

TL;DR: Filing documents grant and vesting schedules for RSUs plus a contemporaneous sale — standard governance disclosure.

The Form 4 details an award of 50,000 RSUs (each convertible to one voting share) and enumerates several RSU grants with five-year annual vesting schedules beginning on specified dates. It separately reports a sale/disposition (code F) of 22,221 common shares at $37.70. The filing is properly executed via power of attorney. This is a standard insider disclosure that updates beneficial ownership and RSU vesting timelines; no governance issues or material exceptions are presented in the filing.

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
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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^*

Losch William C III

(Last) (First) (Middle)

1741 TIBURON DRIVE

(Street)

WILMINGTON NC 28403

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

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

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

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

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	08/25/2025		M		50,000	A	(1)	212,794	D
Voting Common Stock	08/25/2025		F		22,221	D	$37.7	190,573	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	(1)	08/25/2025		M			50,000	(2)	(2)	Voting Common Stock	50,000	$0	150,000	D
Restricted Stock Units	(1)							(3)	(3)	Voting Common Stock	42,000		42,000	D
Restricted Stock Units	(1)							(4)	(4)	Voting Common Stock	2,528		2,528	D
Restricted Stock Units	(1)							(5)	(5)	Voting Common Stock	53,769		53,769	D
Restricted Stock Units	(1)							(6)	(6)	Voting Common Stock	44,066		44,066	D
Restricted Stock Units	(1)							(7)	(7)	Voting Common Stock	45,153		45,153	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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.

Remarks:

	/s/ Jonathan A. Greene, By Power of Attorney	08/27/2025
	** 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.

FAQ

What transactions did William C. Losch III report on the Live Oak Bancshares (LOB) Form 4?

The filing reports acquisition of 50,000 RSUs and a disposition of 22,221 common shares at $37.70 on 08/25/2025.

How many shares does the reporting person beneficially own after the transactions?

Following the reported transactions, the reporting person beneficially owns 190,573 voting common shares.

What do the RSUs represent in this Form 4 for LOB?

Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares voting common stock when vested.

When do the RSUs vest according to the filing?

The RSUs vest in five equal annual installments with vesting start dates listed between August 10, 2022 and February 10, 2026, depending on the grant.

Who signed the Form 4 for the reporting person?

The form is signed by Jonathan A. Greene, by Power of Attorney on 08/27/2025.