Losch William C III 4

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.