Vanguard disaggregates holdings; Live Oak Bancshares (LOB) shows 0 shares

Rhea-AI Filing Summary

Live Oak Bancshares Inc amended a Schedule 13G/A to report that The Vanguard Group holds 0 shares of Common Stock, representing 0% of the class. The filing notes an internal realignment effective January 12, 2026, after which certain Vanguard subsidiaries report holdings separately.

The amendment is signed by Ashley Grim, Head of Global Fund Administration, on March 27, 2026, and states that Vanguard-managed accounts retain rights to dividends or sale proceeds where applicable.

Insights

Institutional Ownership Specialist

Vanguard disaggregated holdings; reported zero beneficial ownership for Live Oak Bancshares.

The filing documents an internal reorganizing at The Vanguard Group effective January 12, 2026, and states certain subsidiaries now report beneficial ownership separately in reliance on SEC Release No. 34-39538. The Schedule 13G/A shows 0 shares and 0% ownership.

Cash‑flow treatment and any subsidiary-level holdings are not shown in this excerpt; subsequent filings by disaggregated Vanguard entities may list holdings separately.

Corporate Governance Analyst

Administrative amendment reflecting reporting structure changes, not a trading event.

This amendment clarifies reporting lines rather than indicating purchases or dispositions. It states that Vanguard "no longer has, or is deemed to have, beneficial ownership" over securities held by certain subsidiaries that will report separately.

Material investor impact is limited in this excerpt; any ownership changes will appear in the separate reports of the affected Vanguard subsidiaries.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Live Oak Bancshares Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

53803X105

(CUSIP Number)

03/13/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 53803X105

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. Further in accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Live Oak Bancshares Inc
(b)	Address of issuer's principal executive offices: 1741 Tiburon Drive, Wilmington, NC, 28403
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd.,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	03/27/2026

FAQ

What does Live Oak Bancshares (LOB) Schedule 13G/A Amendment No. 3 report?

The amendment reports that The Vanguard Group beneficially owns 0 shares of Live Oak Bancshares common stock, representing 0% of the class. It explains an internal Vanguard realignment effective January 12, 2026 causing separate subsidiary reporting.

Why does The Vanguard Group report zero ownership for LOB?

Vanguard states an internal realignment on January 12, 2026 disaggregated former holdings to subsidiaries. As a result, Vanguard reports 0 shares and 0% ownership while related subsidiaries will report their positions separately.

Who signed the Schedule 13G/A amendment for LOB and when?

Ashley Grim, Head of Global Fund Administration at The Vanguard Group, signed the amendment on March 27, 2026. The signature certifies the filing and the explanatory statement about Vanguard's internal realignment.

Does the filing disclose subsidiary-level holdings after Vanguard's realignment?

The amendment states certain Vanguard subsidiaries will report beneficial ownership separately but does not list their holdings here. It notes reliance on SEC Release No. 34-39538 for disaggregated reporting; subsidiary filings would show specific amounts.

Does the Schedule 13G/A indicate The Vanguard Group controls dividends or sale proceeds for LOB shares?

The filing states Vanguard-managed accounts have the right to receive dividends or proceeds where applicable and that no other single person's interest exceeds 5%. It ties dividend/proceeds rights to managed accounts, not to a Vanguard aggregate holding.