Live Oak Bancshares (LOB) executive logs RSU share conversion and tax-withholding disposition

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. executive Renato Derraik reported equity award activity involving restricted stock units and common shares. On February 17, he acquired 1,580 shares of voting common stock at a price of $0.00 per share through the exercise or conversion of restricted stock units. On the same date, 703 shares of voting common stock were disposed of at $40.75 per share to cover tax obligations, leaving him with 79,243 voting common shares held directly. He also continues to hold multiple blocks of restricted stock units that each represent a contingent right to receive one share of voting common stock and vest in five equal annual installments starting on specified February or August dates, subject to his continued service.

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

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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^*

Derraik Renato

(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)
	Chief Info./Digital Off., Bank

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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	02/17/2026		M		1,580	A	(1)	79,946	D
Voting Common Stock	02/17/2026		F		703	D	$40.75	79,243	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)	02/17/2026		M			1,580	(2)	(2)	Voting Common Stock	1,580	$0	1,580	D
Restricted Stock Units	(1)							(3)	(3)	Voting Common Stock	12,769		12,769	D
Restricted Stock Units	(1)							(4)	(4)	Voting Common Stock	35,846		35,846	D
Restricted Stock Units	(1)							(5)	(5)	Voting Common Stock	13,173		13,173	D
Restricted Stock Units	(1)							(6)	(6)	Voting Common Stock	12,543		12,543	D
Restricted Stock Units	(1)							(7)	(7)	Voting Common Stock	25,000		25,000	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 February 14, 2023, 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 February 12, 2025, 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 13, 2024, 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 9, 2027, 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 10, 2026, 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 August 10, 2022, 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	02/19/2026
	** 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).
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FAQ

What insider transactions did Renato Derraik report at Live Oak Bancshares (LOB)?

Renato Derraik reported exercising restricted stock units into 1,580 shares of voting common stock and disposing of 703 shares to satisfy tax obligations. These transactions reflect equity compensation activity rather than an open-market purchase or sale program.

How many Live Oak Bancshares (LOB) shares does Renato Derraik hold after this Form 4?

After the reported transactions, Renato Derraik directly holds 79,243 shares of Live Oak Bancshares voting common stock. He also holds several awards of restricted stock units that may convert into additional shares over time as they vest.

What price was used for the Live Oak Bancshares (LOB) tax-withholding share disposition?

The tax-withholding disposition involved 703 shares of Live Oak Bancshares voting common stock at a price of $40.75 per share. This reflects shares withheld to cover tax liabilities associated with equity award vesting.

What does each restricted stock unit (RSU) represent for Live Oak Bancshares (LOB)?

Each restricted stock unit reported represents a contingent right to receive one share of Live Oak Bancshares voting common stock. Delivery occurs as the RSUs vest according to their respective multi-year vesting schedules, assuming continued service.

How do the Live Oak Bancshares (LOB) RSUs reported by Renato Derraik vest over time?

The restricted stock units vest in five equal annual installments beginning on specific dates in February or August, such as February 14, 2023 and February 10, 2026. Vesting is conditioned on Renato Derraik’s continuous service to the company or a related entity.

Is Renato Derraik’s Form 4 for Live Oak Bancshares (LOB) an open-market stock sale?

The filing does not report an open-market sale. It shows an exercise or conversion of restricted stock units into shares, and a tax-withholding share disposition coded as “F,” which reflects shares delivered to cover tax liabilities.