Live Oak Sponsor V, LLC 4

What Happened

• Live Oak Sponsor V, LLC (a 10% owner/sponsor) reported merger-related transactions on 2026-06-18: a conversion of derivative securities resulting in 5,124,547 shares (conversion entries show both an acquired and a disposed derivative entry) and an award/grant of 4,500,000 shares. No per-share prices are reported (N/A) because these shares were issued/converted as part of the issuer’s business combination (the Merger).

Key Details

• Transaction date: June 18, 2026; Form 4 filed June 23, 2026 (filed after the 2-business-day Form 4 window).
• Prices/values: N/A — shares issued/converted in connection with the Merger (not open-market trades).
• Share counts reported: conversion of 5,124,547 shares (conversion entries show both acquisition and disposition of derivative securities) and grant/acquisition of 4,500,000 shares.
• Shares subject to forfeiture: 1,150,000 shares are subject to forfeiture if certain stock-price thresholds are not met; 524,783 shares were forfeited back to the issuer previously pursuant to the Sponsor Letter Agreement (exempt from reporting under Rule 16a-4(d)).
• Shares owned after the transactions: not specified in the provided filing extract.
• Filing timeliness: appears late (reported June 23 for a June 18 transaction) — marked as not timely under the usual 2-business-day Form 4 rule.

Context

• These were not open-market purchases or sales by an individual insider but merger-related conversions and a sponsor award. The conversion reflects the issuer’s domestication and the closing of the Merger (Class B shares converting to common stock and related award consideration).
• For retail investors: merger-issued awards and conversions are administrative/corporate-transaction items and don’t necessarily signal insider sentiment like a buy or sell in the open market. Note the conditional forfeiture provisions — some award shares can be clawed back if stock-price targets aren’t met.