Losch William C III 4

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.