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Live Oak Bancshares (LOB) CBO exercises 7,117 shares, with 3,163 withheld for taxes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Live Oak Bancshares, Inc. Chief Banking Officer Mark Michael Moroz reported routine equity compensation activity. On May 20, 2026, he exercised derivative awards to acquire 7,117 shares of voting common stock and, in a related transaction, 3,163 shares were withheld at $36.20 per share to cover tax obligations, leaving him with 18,210 shares of common stock held directly after the tax-withholding entry and 21,373 shares after the exercise entry. The filing also shows multiple restricted stock unit awards, each representing a contingent right to receive one share of voting common stock, vesting in equal annual installments beginning on dates between December 9, 2025 and February 9, 2027, subject to his continued service.

Positive

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Negative

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Insider Moroz Mark Michael
Role Chief Banking Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 7,117 $0.00 $0.00
Exercise Voting Common Stock 7,117 $0.00 $0.00
Exercise Price or Tax Liability Voting Common Stock 3,163 $36.20 $115K
holding Restricted Stock Units -- -- --
holding Restricted Stock Units -- -- --
holding Restricted Stock Units -- -- --
holding Restricted Stock Units -- -- --
holding Restricted Stock Units -- -- --
Holdings After Transaction: Restricted Stock Units — 58,863 shares (Direct); Voting Common Stock — 18,210 shares (Direct)
Footnotes (7)
  1. F1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
  2. F2. The RSUs vest in five equal annual installments beginning on May 19, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
  3. F3. The RSUs vest in two equal annual installments beginning on February 14, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
  4. F4. The RSUs vest in three equal annual installments beginning on December 9, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
  5. F5. The RSUs vest in four equal annual installments beginning on February 12, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
  6. F6. 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. F7. 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.
Shares acquired via exercise 7,117 shares Voting common stock acquired through derivative exercise on May 20, 2026
Shares withheld for taxes 3,163 shares Voting common stock delivered for tax liability at $36.20 per share
Tax-withholding price $36.20 per share Price used for 3,163-share tax-withholding disposition
Shares held after tax withholding 18,210 shares Voting common stock directly held following F-code disposition
Shares held after exercise 21,373 shares Voting common stock directly held after 7,117-share exercise
RSU underlying shares (example grant) 8,982 shares Restricted stock units convertible into voting common stock, direct ownership
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share"
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
"one share of Live Oak Bancshares, Inc. voting common stock"
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative exercise/conversion financial
"Exercise or conversion of derivative security"
contingent right financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share"

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Moroz Mark Michael
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Banking Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Voting Common Stock05/20/2026M7,117A(1)21,373D
Voting Common Stock05/20/2026F3,163D$36.218,210D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)05/20/2026M7,117 (2) (2)Voting Common Stock7,117$028,470D
Restricted Stock Units(1) (3) (3)Voting Common Stock1,5801,580D
Restricted Stock Units(1) (4) (4)Voting Common Stock5,6595,659D
Restricted Stock Units(1) (5) (5)Voting Common Stock6,7606,760D
Restricted Stock Units(1) (6) (6)Voting Common Stock7,4127,412D
Restricted Stock Units(1) (7) (7)Voting Common Stock8,9828,982D
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 May 19, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
3. The RSUs vest in two equal annual installments beginning on February 14, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.
4. The RSUs vest in three equal annual installments beginning on December 9, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
5. The RSUs vest in four equal annual installments beginning on February 12, 2026, 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 February 9, 2027, 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 Attorney05/21/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR