Davis Sally S 4

What Happened

• Sally S. Davis, a director of Live Oak Bancshares, had 1,890 restricted stock units (RSUs) vest on May 1, 2026. The Form 4 shows an acquisition/settlement of 1,890 shares and a simultaneous disposition of 1,890 shares at $0.00 (both reported under derivative/option code M).
• The filing does not report a cash value for the acquired shares. The disposed shares are reported at $0.00, and no sale proceeds are shown.

Key Details

• Transaction date: May 1, 2026; Form 4 filed May 5, 2026 (filed within the typical two-business-day reporting window).
• Reported entries: +1,890 shares acquired (conversion of derivative/RSU) and -1,890 shares disposed at $0.00.
• Shares owned after the transaction: Not specified in the provided filing data.
• Footnotes: F1 confirms each RSU equals a contingent right to one share; F2 states the RSUs vested on May 1, 2026.
• Filing appears timely (filed May 5 for a May 1 transaction).

Context

• The filing reflects RSU vesting and conversion rather than an open-market buy or sale. The matching acquisition and disposition of the same share count (disposed at $0.00) is consistent with net-share settlement or immediate surrender often used to satisfy withholding or settlement requirements, but the filing does not explicitly state the reason for the disposition.
• Such vesting events are routine compensation for insiders and do not by themselves indicate a buy or sell judgment about the company.