Losch William C III 4
4 · Live Oak Bancshares, Inc. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Live Oak Bancshares (LOB) President Losch Exercises RSUs, Surrenders 4,105 Shares
What Happened
William C. Losch III, President of Live Oak Bancshares (LOB), was granted 52,694 restricted stock units (RSUs) on 2026-02-09. On 2026-02-10, 9,030 of those RSUs converted/settled into common shares; 4,105 of the newly issued shares were withheld/surrendered to cover tax withholding at $41.04 per share, a withholding value of $168,469. Net of taxes, Losch received 4,925 shares.
Key Details
- Transaction dates: RSU grant on 2026-02-09; conversion/settlement and tax withholding on 2026-02-10. Filing date: 2026-02-11.
- Prices/values: RSU grant recorded at $0 (typical for RSUs); tax withholding = 4,105 shares × $41.04 = $168,469. Some derivative entries list N/A or $0 reflecting conversion/settlement rather than a cash option purchase.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Footnotes of note: F1 clarifies each RSU equals a contingent right to one share; F2–F8 describe various RSU vesting schedules (RSUs vest in five equal annual installments with differing start dates, including Feb 10, 2026 and earlier dates).
- Timeliness: Filing appears to be timely (transactions on Feb 9–10 filed Feb 11), with no late-filing flag indicated.
Context
RSUs are awards that convert to actual shares when they vest; here the report shows immediate conversion/settlement of 9,030 units and routine share withholding to satisfy tax obligations (a common practice, effectively a cashless settlement for tax purposes). These entries are awards/settlements and tax withholdings rather than open-market purchases or discretionary sales, so they primarily reflect compensation settlement rather than a directional buy/sell decision by the insider.
Insider Transaction Report
- Exercise/Conversion
Voting Common Stock
[F1]2026-02-10+9,030→ 199,603 total - Tax Payment
Voting Common Stock
2026-02-10$41.04/sh−4,105$168,469→ 195,498 total - Award
Restricted Stock Units
[F1][F2]2026-02-09+52,694→ 52,694 total→ Voting Common Stock (52,694 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-10−9,030→ 36,123 total→ Voting Common Stock (9,030 underlying)
- 42,000
Restricted Stock Units
[F1][F4]→ Voting Common Stock (42,000 underlying) - 2,528
Restricted Stock Units
[F1][F5]→ Voting Common Stock (2,528 underlying) - 53,769
Restricted Stock Units
[F1][F6]→ Voting Common Stock (53,769 underlying) - 150,000
Restricted Stock Units
[F1][F7]→ Voting Common Stock (150,000 underlying) - 44,066
Restricted Stock Units
[F1][F8]→ Voting Common Stock (44,066 underlying)
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 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.
- [F3]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.
- [F4]The RSUs vest 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.
- [F5]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.
- [F6]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.
- [F7]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.
- [F8]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.