Losch William C III 4

4 · Live Oak Bancshares, Inc. · Filed Feb 17, 2026

AI-generated summary of this filing

Updated Feb 17, 2026

Live Oak Bancshares (LOB) President William Losch Exercises RSUs

What Happened

William C. Losch III, President of Live Oak Bancshares (LOB), converted vested restricted stock units (RSUs) into common shares on Feb 12–13, 2026. He received 28,939 shares in total (11,016 on Feb 12 and 17,923 on Feb 13).
To satisfy tax withholding, 12,861 shares were surrendered (4,896 on Feb 12 at $40.22, value $196,917; 7,965 on Feb 13 at $40.54, value $322,901), totaling $519,818.
The RSU conversions show $0 exercise price (derivative conversion), indicating settlement of RSUs into shares rather than a cash exercise.

Key Details

Transaction dates and amounts:
- Feb 12, 2026: Converted 11,016 RSUs → 11,016 shares; 4,896 shares withheld for taxes at $40.22 ($196,917).
- Feb 13, 2026: Converted 17,923 RSUs → 17,923 shares; 7,965 shares withheld for taxes at $40.54 ($322,901).
Total acquired: 28,939 shares. Total withheld/disposed for taxes: 12,861 shares (total value $519,818).
Footnotes: Each RSU equals one share (F1). Multiple RSU grants with various vesting schedules are noted (F2–F8); vesting is subject to continued service. The F-coded transactions indicate share withholding to cover tax liabilities.
Shares owned after the transactions are not specified in this filing.

Context

This was a conversion/settlement of RSUs with shares withheld to cover tax obligations — effectively a net share settlement (common practice for RSU vesting), not an open-market sale or purchase signal.
The derivative entries at $0 reflect RSU-to-share conversion (no cash exercise price). No 10b5‑1 plan or late-filing indication was disclosed in the provided data.

Form 4

Period: 2026-02-12

President

Transactions

Exercise/Conversion
Voting Common Stock
[F1]
2026-02-12+11,016→ 206,514 total
Tax Payment
Voting Common Stock
2026-02-12$40.22/sh−4,896$196,917→ 201,618 total
Exercise/Conversion
Voting Common Stock
[F1]
2026-02-13+17,923→ 219,541 total
Tax Payment
Voting Common Stock
2026-02-13$40.54/sh−7,965$322,901→ 211,576 total
Exercise/Conversion
Restricted Stock Units
[F1][F2]
2026-02-12−11,016→ 33,050 total
→ Voting Common Stock (11,016 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F3]
2026-02-13−17,923→ 35,846 total
→ Voting Common Stock (17,923 underlying)

Holdings

Restricted Stock Units
[F1][F4]
→ Voting Common Stock (52,694 underlying)
52,694
Restricted Stock Units
[F1][F5]
→ Voting Common Stock (36,123 underlying)
36,123
Restricted Stock Units
[F1][F6]
→ Voting Common Stock (42,000 underlying)
42,000
Restricted Stock Units
[F1][F7]
→ Voting Common Stock (2,528 underlying)
2,528
Restricted Stock Units
[F1][F8]
→ Voting Common Stock (150,000 underlying)
150,000

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 12, 2025, 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 13, 2024, 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 February 9, 2027, 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 10, 2026, 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 August 10, 2022, 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 February 14, 2023, 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 August 25, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.

Signature

/s/ Jonathan A. Greene, By Power of Attorney|2026-02-17

1 file