[Form 4] Live Oak Bancshares, Inc. Insider Trading Activity
Rhea-AI Filing Summary
Michael Cairns, Chief Credit Officer at Live Oak Bancshares (LOB) reported changes in beneficial ownership on 08/19/2025. The filing shows acquisition of 2,420 restricted stock units (RSUs) (Transaction code M) and disposition of 1,076 shares (Transaction code F) at a price of $35.35. After these transactions the reporting person beneficially owns 9,366 shares (non-derivative) and 9,680 shares beneficially attributable to derivative/RSU holdings. The RSUs each convert to one share and have multiple vesting schedules disclosed, with scheduled vesting installments through 2029 subject to continuous service.
Positive
- None.
Negative
- None.
Insights
TL;DR: Insider received RSUs and reported a sale/ disposition, altering direct and derivative holdings moderately.
The Form 4 documents an 08/19/2025 award and a contemporaneous disposition. The filing explicitly lists 2,420 RSUs acquired and a 1,076-share disposition at $35.35, leaving 9,366 direct and 9,680 derivative/RSU shares beneficially owned. Multiple RSU grants have staggered vesting dates through 2029; each RSU converts to one share. The record is factual and routine for reported equity compensation and a separate share disposition; the filing contains no other corporate actions or financial results.
TL;DR: Disclosure is consistent with standard executive equity compensation and required Section 16 reporting.
The report identifies the reporting person as an officer (Chief Credit Officer) and provides detailed vesting schedules for multiple RSU grants, including installments that vest annually through 2029. The explanation clarifies that each RSU equals one share and specifies vesting contingent on continuous service. The filing appears complete for the transactions reported and includes a duly executed signature by power of attorney.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,420 | $0.00 | -- |
| Exercise | Voting Common Stock | 2,420 | $0.00 | -- |
| Tax Withholding | Voting Common Stock | 1,076 | $35.35 | $38K |
| 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. 2,420 of the RSUs will vest on each of August 19, 2025, 2026, 2027, 2028, and 2029, subject to the reporting person's continuous service to the Company or a related entity on such date. 943 of the RSUs vested on December 9, 2024 and 943 of the RSUs will vest on each of December 8, 2025, 2026, and 2027, subject to the reporting person's continuous service to the Company or a related entity on such date. 945 of the RSUs vested on December 9, 2024, and 946 of the RSUs will vest on each of December 8, 2025, 2026, 2027, and 2028, subject to the reporting person's continuous service to the Company or a related entity on such date. 235 of the RSUs will vest on each of December 15, 2024 and 2025, and 236 of the RSUs will vest on December 15, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date. 145 of the RSUs will vest on each of February 22, 2025 and 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 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
