Live Oak Bancshares (LOB) president converts 42,000 RSUs, withholds shares for taxes
Rhea-AI Filing Summary
Live Oak Bancshares, Inc. President William C. Losch III exercised 42,000 Restricted Stock Units into an equal number of shares of voting common stock on 2026-08-10. In a related transaction, 18,665 shares of common stock at $42.23 per share were delivered or withheld for payment of exercise price or tax liability. He continues to hold several RSU awards, each representing one share of voting common stock and scheduled to vest in five equal annual installments beginning on dates ranging from August 10, 2022 through February 9, 2027, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 23,335 shares
Net Buy
9 txns
Insider
Losch William C III
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1, F2 | 42,000 | $0.00 | $0.00 |
| Exercise | Voting Common Stock F1 | 42,000 | -- | -- |
| Exercise Price or Tax Liability | Voting Common Stock | 18,665 | $42.23 | $788K |
| holding | Restricted Stock Units F1, F3 | -- | -- | -- |
| holding | Restricted Stock Units F1, F4 | -- | -- | -- |
| holding | Restricted Stock Units F1, F5 | -- | -- | -- |
| holding | Restricted Stock Units F1, F6 | -- | -- | -- |
| holding | Restricted Stock Units F1, F7 | -- | -- | -- |
| holding | Restricted Stock Units F1, F8 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 308,977 shares (Direct);
Voting Common Stock — 235,613 shares (Direct)
Footnotes (8)
- F1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
- F2. The RSUs vested 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.
- F3. 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.
- F4. 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.
- F5. 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.
- F6. 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.
- F7. 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.
- F8. 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.
Key Figures
RSUs Exercised: 42,000 Restricted Stock Units
Shares Acquired: 42,000 shares
Shares Delivered/Withheld: 18,665 shares
+3 more
6 metrics
RSUs Exercised
42,000 Restricted Stock Units
RSUs converted into voting common stock on 2026-08-10
Shares Acquired
42,000 shares
Voting common stock received upon RSU exercise
Shares Delivered/Withheld
18,665 shares
Delivered or withheld for payment of exercise price or tax liability
Per-Share Amount for Delivery/Withholding
$42.23 per share
Price applied to 18,665 shares for exercise price or tax liability
Largest Remaining RSU Grant
150,000 underlying shares
Restricted Stock Units referencing 150,000 shares of voting common stock
Additional RSU Underlying Shares
52,694 underlying shares
One of several remaining RSU positions held directly
Key Terms
Restricted Stock Units, voting common stock, Exercise or conversion of derivative security, Payment of exercise price or tax liability by delivering or withholding securities, +1 more
5 terms
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
"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""
Payment of exercise price or tax liability by delivering or withholding securities financial
"transaction code description "Payment of exercise price or tax liability by delivering or withholding securities""
continuous service financial
"subject to the reporting person's continuous service to the Company"
FAQ
What did LOB President William C. Losch III report in this Form 4?
He reported exercising 42,000 Restricted Stock Units into voting common stock and delivering or withholding 18,665 shares at $42.23 per share to cover exercise price or tax liability.
Does the LOB Form 4 indicate remaining RSU awards for William C. Losch III?
Yes. The filing lists multiple RSU awards with underlying shares of 1,264, 35,846, 150,000, 33,050, 36,123, and 52,694 voting common shares, all reported as held directly as of the transaction date.
What are the vesting terms for the RSUs reported in the LOB Form 4?
Each RSU grant vests in five equal annual installments, with different grants beginning vesting on dates including August 10, 2022 and February 9, 2027, contingent on William C. Losch III’s continuous service to the company.
Was the LOB Form 4 transaction under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not marked as affirmatively under a plan. No footnote states that these transactions were executed pursuant to a Rule 10b5-1 trading arrangement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
