Lunsford Jeffrey W 4

What Happened

• Jeffrey W. Lunsford, a director of Live Oak Bancshares, had 1,890 restricted stock units (RSUs) vest and be converted into 1,890 shares on May 1, 2026. The Form 4 shows the acquisition (exercise/conversion of a derivative) and an identical disposition of 1,890 shares recorded at $0.00. No cash purchase or sale value is reported for the acquisition.

Key Details

• Transaction date: May 1, 2026.
• Acquisition: 1,890 shares via exercise/conversion of derivative (RSU); price reported as N/A (no cash paid).
• Disposition: 1,890 shares at $0.00 (reported value $0).
• Footnotes: F1 — each RSU equals the contingent right to one share; F2 — the RSUs vested on May 1, 2026.
• Shares owned after transaction: not provided in the excerpt.
• Filing date: June 2, 2026. This appears to be late relative to the standard 2-business-day insider reporting window (filed 32 days after the transaction), so timeliness is flagged.

Context

• These entries reflect an award (RSU) vesting and conversion to shares rather than an open-market buy or sale. The equal disposition at $0.00 may reflect a settlement action (for example, tax withholding or company transfer), but the Form 4 excerpt does not specify the reason. Such conversions are typically routine compensation events for executives and directors and do not by themselves indicate a change in insider sentiment.