Live Oak Bancshares (LOB) director receives 1,890 new shares

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. director Sally S. Davis exercised restricted stock units that had vested into common shares as part of her compensation. On May 1, 2026, 1,890 restricted stock units converted into 1,890 shares of voting common stock, each unit representing a contingent right to one share. Following this transaction, she directly holds 12,640 shares of voting common stock. These were option/RSU exercises, not open‑market purchases or sales.

Insider Trade Summary

1,890 shares exercised/converted

Mixed 2 txns

Insider Davis Sally S

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,890	$0.00	--
Exercise	Voting Common Stock	1,890	$0.00	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Voting Common Stock — 12,640 shares (Direct, null)

Footnotes (1)

1. Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares, Inc. voting common stock. The restricted stock units vested on May 1, 2026.

Key Figures

RSUs exercised: 1,890 units Shares acquired: 1,890 shares Direct holdings after transaction: 12,640 shares +2 more

5 metrics

RSUs exercised 1,890 units Restricted stock units converting into voting common stock on May 1, 2026

Shares acquired 1,890 shares Voting common stock received from RSU conversion on May 1, 2026

Direct holdings after transaction 12,640 shares Voting common stock held directly by Sally S. Davis after the exercise

Exercise price $0.00 per share Restricted stock unit conversion price indicated in the filing

Exercise count 1 transaction Derivative exercise/conversion events in transaction summary

Key Terms

Restricted Stock Units, Voting Common Stock, Exercise or conversion of derivative security, derivative exercise/conversion

4 terms

Restricted Stock Units financial

"The restricted stock units vested on May 1, 2026."

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

"Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares, Inc. voting common stock."

Exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

derivative exercise/conversion financial

"transaction_action: derivative exercise/conversion"

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
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^*

Davis Sally S

(Last) (First) (Middle)

1741 TIBURON DRIVE

(Street)

WILMINGTON NORTH CAROLINA 28403

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

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

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

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

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	05/01/2026		M		1,890	A	(1)	12,640	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)	05/01/2026		M			1,890	(2)	(2)	Voting Common Stock	1,890	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Live Oak Bancshares, Inc. voting common stock.

2. The restricted stock units vested on May 1, 2026.

Remarks:

	/s/ Jonathan A. Greene, By Power of Attorney	05/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Live Oak Bancshares (LOB) director Sally S. Davis report on this Form 4?

Sally S. Davis reported the exercise of restricted stock units into common shares. On May 1, 2026, 1,890 restricted stock units converted into 1,890 shares of Live Oak Bancshares voting common stock as part of her equity compensation, increasing her direct share ownership.

How many Live Oak Bancshares (LOB) shares did Sally S. Davis acquire?

She acquired 1,890 shares of voting common stock through an exercise of restricted stock units. Each restricted stock unit represented a contingent right to receive one share, and all 1,890 units vested and converted on May 1, 2026, into the same number of shares.

What is Sally S. Davis’s Live Oak Bancshares (LOB) ownership after the transaction?

After the transaction, Sally S. Davis directly owns 12,640 shares of Live Oak Bancshares voting common stock. This figure reflects her position following the conversion of 1,890 restricted stock units that vested and were settled in shares on May 1, 2026.

Were the Live Oak Bancshares (LOB) transactions open-market buys or sells?

No, the transactions were not open-market trades. They were coded as “M,” indicating an exercise or conversion of derivative securities. Restricted stock units vested and converted into 1,890 common shares, so this reflects compensation vesting rather than discretionary buying or selling.

What do the restricted stock unit footnotes mean for Live Oak Bancshares (LOB)?

The footnotes explain each restricted stock unit equals one share of voting common stock and that the units vested on May 1, 2026. This clarifies the mechanism: once vested, 1,890 units automatically converted into 1,890 common shares held directly by Sally S. Davis.